Wednesday, July 01, 2020

ADP: Private Employment increased 2,369,000 in June

by Calculated Risk on 7/01/2020 08:19:00 AM

From ADP:

Private sector employment increased by 2,369,000 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.

“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.”
This was below the consensus forecast for 3,000,000 private sector jobs added in the ADP report.

The BLS report will be released Thursday (Friday is a holiday), and the consensus is for 3,074,000 non-farm payroll jobs added in June.