US Adds 158,000 Private Sector Jobs, labor market ‘Remains Strong’ ADP Reports

By: Staffing Industry Analysts

US private-sector employment rose by 158,000 jobs in June from May, according to the ADP national employment report. June’s gain fell far short of the 230,000 gain in May, which was revised downward from 253,000.

Reuters reported US companies in June hired fewer workers than anticipated; its survey of economists had forecast the report would show a gain of 185,000 jobs, with estimates ranging from 140,000 to 233,000.

“Despite a slight moderation in the month of June, the labor market remains strong,” said Ahu Yildirmaz, VP and co-head of the ADP Research Institute. “For the month of June, jobs were primarily created in the service-providing sector.”

The number of goods-producing jobs was unchanged as a gain of 6,000 manufacturing jobs was offset by a loss of 2,000 construction jobs and 4,000 natural resources/mining jobs. Service-providing jobs rose by 158,000.

Large businesses added 50,000 jobs in June. Midsize businesses added 91,000 jobs and small businesses added 17,000 jobs.

“The job market continues to power forward,” said Mark Zandi, chief economist at Moody’s Analytics, which produces the report in collaboration with ADP. “Abstracting from the monthly ups and downs, job growth remains a stalwart between 150,000 and 200,000. At this pace, which is double the rate of labor force growth, the tight labor market will continue getting tighter.”

Source:

http://www2.staffingindustry.com/Editorial/Daily-News/US-adds-158-000-private-sector-jobs-labor-market-remains-strong-ADP-reports-42650