by Bill McBride on 7/03/2013 08:19:00 AM
Wednesday, July 03, 2013
Private sector employment increased by 188,000 jobs from May to June, according to the June ADP National Employment Report®. ... May’s job gains were revised downward to 134,000 from 135,000.This was above the consensus forecast for 165,000 private sector jobs added in the ADP report. Note: The BLS reports on Friday, and the consensus is for an increase of 175,000 payroll jobs in June, on a seasonally adjusted (SA) basis.
Mark Zandi, chief economist of Moody’s Analytics, said, "The job market continues to gracefully navigate through the strongly blowing fiscal headwinds. Health Care Reform does not appear to be significantly hampering job growth, at least not so far. Job gains are broad based across industries and businesses of all sizes."
Note: ADP hasn't been very useful in predicting the BLS report.
Posted by Bill McBride on 7/03/2013 08:19:00 AM