,

Private Payrolls Estimated To Rise by 2.37 Million in June, May Revised Up By 5.2 Million

Private Payrolls Estimated To Rise by 2.37 Million in June, May Revised Up By 5.2 Million
Advertisements

U.S. private payrolls increased by 2.369 million in June, the  ADP National Employment Report showed on Wednesday.

Data for May was revised up to show a 3.065 million rise in payrolls, instead of the previous estimate of a 2.76 decline.

Economists polled by Econoday had forecast private payrolls increasing by 3.5 million in June.

The ADP report, which is produced with Moody’s Analytics, is published in advance of the government’s more comprehensive monthly report on the employment situation. Last month, ADP showed payrolls shrinking by millions while the government’s report said the economy added 2.5 million jobs.

ADP said small businesses, those with less than 50 employees, added 937,000 jobs in June. Midsized businesses added 559,000. Businesses with 500 or more employees added 873,000.

Manufacturers added 88,000 jobs while miners and drillers shrank by 26,000. Construction firms added 394,000. Leisure and hospitality added 961,000 as bars, restaurants, and hotels reopened for business across the country. Information technology jobs fell by 50,000.

Read More