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U.S. Economy Added 281,000 Private-Sector Jobs in June

U.S. Economy Added 281,000 Private-Sector Jobs in June, According to ADP National Employment Report

ADP NATIONAL EMPLOYMENT REPORT: PRIVATE SECTOR EMPLOYMENT INCREASED BY 281,000 JOBS IN JUNE

Private sector employment increased by 281,000 jobs from May to June according to the June ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by ADP®, a leading global provider of Human Capital Management (HCM) solutions, in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally adjusted basis.

Goods-producing employment rose by 51,000 jobs in June, up from 31,000 jobs gained in May. The construction industry added 36,000 jobs over the month, more than double the May number. Meanwhile, manufacturing added 12,000 jobs in June, up slightly from last month.

Service-providing employment rose by 230,000 jobs in June, up from 148,000 in May. The ADP National Employment Report indicates that professional/ business services contributed 77,000 jobs in June, up from 46,000 in May. Expansion in trade/transportation/utilities grew by 50,000, up from May’s 36,000. The 11,000 new jobs added in financial activities was about double last month’s number.

“The June jobs number is a welcome boost,” said Carlos Rodriguez, president and chief executive officer of ADP. “The number of construction jobs added was particularly encouraging, representing the highest total in that industry since February of 2006.” … Mark Zandi, chief economist of Moody’s Analytics, said, “The job market is steadily improving. Job gains are broad based across all industries and company sizes. Judging from the job market, the economic recovery remains fully intact and is gaining momentum.”

[Source: ADP®, Automatic Data Processing]

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