Thursday, July 05, 2018

ADP: Private Employment increased 177,000 in June

by Calculated Risk on 7/05/2018 08:20:00 AM

From ADP:

Private sector employment increased by 177,000 jobs from May to June according to the June ADP National Employment Report®. ... 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.
“The labor market continues to march towards full employment,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Healthcare led job growth once again and trade rebounded nicely.”

Mark Zandi, chief economist of Moody’s Analytics, said, “Business’ number one problem is finding qualified workers. At the current pace of job growth, if sustained, this problem is set to get much worse. These labor shortages will only intensify across all industries and company sizes.”
This was below the consensus forecast for 188,000 private sector jobs added in the ADP report. 

The BLS report for June will be released Friday, and the consensus is for 190,000 non-farm payroll jobs added in June.