fbpx
How Choosing the Right Printer Helps Small Businesses and Content Creators to Save Time, Maximise Productivity and Achieve GrowthRead more Eritrea: World Breastfeeding WeekRead more Eritrean community festival in Scandinavian countriesRead more IOM: Uptick in Migrants Heading Home as World Rebounds from COVID-19Read more Network International & Infobip to offer WhatsApp for Business Banking Services to Financial Institution Clients across AfricaRead more Ambassador Jacobson Visits Gondar in the Amhara Region to Show Continued U.S. Support for the Humanitarian and Development Needs of EthiopiansRead more Voluntary Repatriation of Refugees from Angola to DR Congo ResumesRead more Senegal and Mauritania Are Rich in Resources, Poor in Infrastructure, Now Is the Time to Change That Read more Madinat Jumeirah: Dubai’s Stunning Four Hotel Beach Resort Offers Unirvalled Benefits for Summer StaycationsRead more Measles: EU Provides €450,000 in Humanitarian Response to Measles Outbreaks in SomaliaRead more

US private hiring slows in June to 692,000: ADP

show caption
Nearly half the private job gains in June were in leisure and hospitality, reflecting business reopenings, according to the ADP report./AFP
Print Friendly and PDF

Jul 01, 2021 - 06:29 AM

WASHINGTON — Private US firms added 692,000 jobs in June, a sharp decline from May, according to payroll services firm ADP, but the result was far more than economists expected.

The vast majority of positions were in the dominant services sector, while construction firms gained 47,000 and manufacturing just 19,000, the report said.

And the data reflected the continuing recovery of sectors hardest hit by the Covid-19 pandemic shutdowns, with nearly half the gains — 332,000 — in leisure and hospitality.

“The labor market recovery remains robust, with June closing out a strong second quarter of jobs growth,” ADP chief economist Nela Richardson said.

“While payrolls are still nearly seven million short of pre-COVID19 levels, job gains have totaled about three million since the beginning of 2021.”

Economists projected a gain of just 400,000 private sector jobs in the month, following the increase of 886,000 in May.

The report is a preview of the all-important government employment data due out on Friday, which has a consensus forecast of 680,000 non-farm job gains with the unemployment rate ticking down to 5.7 percent.

But the ADP data are not always in sync with the official figures

Ian Shepherdson of Pantheon Macroeconomics summarized the ADP report calling it “Decent but still no cigars.”

He cautioned that the data is “noisy” and after understating official job gains for months, recently has overshot the Labor Department data.

  • bio
  • twitter
  • facebook
  • latest posts

LMBCBUSINESS.COM uses both Facebook and Disqus comment systems to make it easier for you to contribute. We encourage all readers to share their views on our articles and blog posts. All comments should be relevant to the topic. By posting, you agree to our Privacy Policy. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, name-calling, foul language or other inappropriate behavior. Please keep your comments relevant and respectful. By leaving the ‘Post to Facebook’ box selected – when using Facebook comment system – your comment will be published to your Facebook profile in addition to the space below. If you encounter a comment that is abusive, click the “X” in the upper right corner of the Facebook comment box to report spam or abuse. You can also email us.