US ADP employment grew 692k in June, above expectation of 600k. By company size, small businesses added 215k jobs, medium businesses added 236k, large businesses added 240k. By sector, goods-producing jobs grew 68k, service-providing grew 624k.
“The labor market recovery remains robust, with June closing out a strong second quarter of jobs growth,” said Nela Richardson, chief economist, ADP. “While payrolls are still nearly 7 million short of pre-COVID-19 levels, job gains have totaled about 3 million since the beginning of 2021. Service providers, the hardest hit sector, continue to do the heavy lifting, with leisure and hospitality posting the strongest gain as businesses begin to reopen to full capacity across the country.”
