ADP: U.S. Added 188K Jobs In June
National employment increased by 188,000 jobs in June, according to the ADP's National Employment Report, which it derives from actual payroll data.
According to the report, businesses with fewer than 50 employees added 84,000 jobs, while those with 50 to 500 added 55,000 positions. Large businesses saw the smallest gain, at 49,000 employees.
While goods-producing employment lagged behind the service sector, adding 27,000 jobs, compared to 161,000, it was the largest gain for good-producing employment in four months, ADP said. The service sector had its largest gain since February.
Construction added 21,000 jobs, its largest gain since January. Manufacturing added 1,000 jobs, following a two-month decline. The biggest gain was in the trade, transportation and utilities sector which added 43,000 jobs. Financial activities added 13,000 jobs which was nearly double its average monthly growth for the first five months of the year.
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."
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