trending Market Intelligence /marketintelligence/en/news-insights/trending/qfqevxcj2ei5bo9etenxma2 content esgSubNav
In This List

US private-sector job gains miss estimates in June


Banking Essentials Newsletter: July 10th Edition


Enabling Growth in the EMEA Loan Market


Masters of Risk | Episode 12 - Women's Panel


Banking Essentials Newsletter: June 26th Edition

US private-sector job gains miss estimates in June

U.S. private-sector employers added 177,000 jobs in June, fewer than Econoday's consensus estimate of 190,000 job gains, according to data from the ADP National Employment Report.

The total number of jobs added in May was revised up to 189,000 from 178,000.

"Business's 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," said Mark Zandi, chief economist of Moody's Analytics.

The services sector added 148,000 jobs last month, while the goods-producing sector posted 29,000 job gains.

Within the services sector, education and health services drove growth, adding 46,000 jobs in June. This was followed by healthcare and social assistance with 37,000 added jobs. Professional and business services had 33,000 job gains, as did leisure and hospitality. Employment in information fell by 2,000.

Within the goods-producing sector, the construction industry added 13,000 jobs, manufacturing gained 12,000, and natural resources and mining added 5,000.

Employment at medium-sized businesses increased by 80,000. Large businesses added 69,000 jobs and small businesses posted 29,000 job gains.

SNL Image