US ADP employment report showed 2369k growth in private sector jobs in June, below expectation of 3000k. Nevertheless, May’s figure was revised sharply higher from -2760k loss to 3065k growth. By company size, small businesses added 937k jobs, medium businesses added 559k, large businesses added 873k. Goods-producing sector added 457k jobs while service-providing sector grew 1912k.
“Small business hiring picked up in the month of June,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “As the economy slowly continues to recover, we are seeing a significant rebound in industries that once experienced the greatest job losses. In fact, 70 percent of the jobs added this month were in the leisure and hospitality, trade and construction industries.”
