UPDATE: ADP US Private-Sector Employment Increased by 176,000 Jobs in June
Private-sector employment increased by 176,000 from May to June on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The ADP National Employment Report, created by Automatic Data Processing, Inc. (ADP), in partnership with Macroeconomic Advisers, LLC, is derived from actual payroll data and measures the change in total nonfarm private employment each month. The estimated gain from April to May was revised up slightly, from the initial estimate of 133,000 to a revised estimate of 136,000.
According to today's ADP National Employment Report, employment in the nonfarm private business sector rose 176,000 from May to June on a seasonally adjusted basis. Employment in the private, service-providing sector rose 160,000 in June, after rising a revised 137,000 in May. Employment in the private, goods-producing sector added 16,000 jobs in June, while manufacturing employment added 4,000, reversing May's decline. Construction employment rose by 8,000 jobs, more than reversing the declines of the two previous months. The financial services sector added 11,000 jobs from May to June.
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