That has economists looking at all kinds of data, prepping in great detail for the 8:30 a.m. Eastern time whistle on Thursday. The report is usually on the first Friday of the month, but it will arrive a day earlier owing to the July 4 holiday.

Privately run businesses reduced jobs in June for the first time in more than two years, ADP said, as ongoing U.S. trade wars created a “hesitancy to hire and a reluctance to replace departing workers.

American employers shed 33,000 staff last month, a new report showed, in an unexpectedly weak readout on U.S. labor-market health. The ADP data undershot consensus expectations for job growth of 100,0000 positions in June,