trending Market Intelligence /marketintelligence/en/news-insights/trending/3o2wrbcyIug3Z3p7eJPFIw2 content esgSubNav
In This List

Private sector added 172,000 jobs in June, says ADP

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Private sector added 172,000 jobs in June, says ADP

Private sector employmentincreased by 172,000 jobs in June, according to the ADP National EmploymentReport.

Automatic DataProcessing Inc. produces the report in collaboration with Moody's Analytics.The report is derived from ADP's actual payroll data and measures the monthlychange in total nonfarm private employment on a seasonally adjusted basis.

Small businesses booked the largest increases in June,adding 95,000 jobs. Medium businesses added52,000 jobs and large businesses added 25,000 jobs in the month.

Goods-producing employmentdeclined by 36,000 jobs in the month, while service-providing employmentincreased by 208,000 jobs.

Among different industries, trade,transportation and utilities registered the highest growth with the addition of55,000 jobs. Professional and business services added 51,000 jobs and financialactivities contributed 2,000 jobs. During June, the construction industry lost5,000 jobs, while manufacturing employment wasdown by 21,000 jobs.

"Lackluster global growth,low commodity prices and an unfavorable exchange rate continue to weigh on U.S.companies, especially larger companies," Ahu Yildirmaz, vice president andhead of the ADP Research Institute, said in a statement.

U.S. franchise jobs increased by 40,700 during the month ofJune.

ADP revised the May total of jobs added to 168,000 from 173,000.

"Job growth remains healthy except in the energy andtrade-sensitive manufacturing sectors," Moody'sAnalytics Chief Economist Mark Zandi said. "Largemultinationals are struggling a bit, and Brexit won't help, but small- andmid-sized companies continue to add strongly to payrolls."

SNL Image