Wednesday, June 30, 2010

ADP: Private Employment increased 13,000 in June

by Calculated Risk on 6/30/2010 08:15:00 AM

ADP reports:

Nonfarm private employment increased 13,000 from May to June 2010 on a seasonally adjusted basis, according to the ADP National Employment Report®. The estimated change in employment from April to May 2010 was revised up slightly, from the previously reported increase of 55,000 to an increase of 57,000.

June’s rise in private employment was the fifth consecutive monthly gain. However, over these five months the increases have averaged a modest 34,000. Recent ADP Report data suggest that, following steady improvement through April, private employment may have decelerated heading into the summer.
Note: ADP is private nonfarm employment only (no government jobs).

This is below the consensus forecast of ADP showing an increase of 60,000 private sector jobs in June.

The BLS reports on Friday, and the consensus is for a decrease of 100,000 payroll jobs in June, on a seasonally adjusted (SA) basis, with the loss of around 250,000 temporary Census 2010 jobs (+150,000 ex-Census).