ADP: June Private-Sector Employment Grows by 692,000

In the first of three reports this week gauging the state of U.S. employment, ADP, Roseland, N.J., said private-sector employers added 692,000 jobs in June.

The ADP National Employment Report said by company size, small businesses added 215,000 jobs; medium-sized businesses (up to 499 employees) added 236,000 jobs; and large businesses added 240,000 jobs.

By sector, ADP reported goods-producing employers added 68,000 jobs, while service-providing employers added 624,000 jobs.

“The labor market recovery remains robust, with June closing out a strong second quarter of jobs growth,” said Nela Richardson, chief economist with ADP. “While payrolls are still nearly 7 million short of pre-COVID19 levels, job gains have totaled about 3 million since the beginning of 2021. Service providers, the hardest hit sector, continue to do the heavy lifting, with leisure and hospitality posting the strongest gain as businesses begin to reopen to full capacity across the country.”

On Thursday, the Labor Department will release its weekly Initial Claims report for unemployment insurance (8:30 a.m. ET). On Friday, the Bureau of Labor Statistics will release its monthly Employment report for June. MBA NewsLink will provide coverage of both reports; the BLS Employment report story will include commentary and analysis from MBA Chief Economist Mike Fratantoni; Odeta Kushi, Deputy Chief Economist with First American Financial Corp., Santa Ana, Calif.; Sarah House, Senior Economist with Wells Fargo Economics, Charlotte, N.C.; and Doug Duncan, Chief Economist with Fannie Mae, Washington, D.C.

Because of the Independence Day holiday observance on Monday, July 5, the Employment report story will not appear in MBA NewsLink until Tuesday, July 6.