ADP June employment increase beats expectations
Employment hits 281,000
Jobs in the private sector increased by 281,000 from May to June, beating analyst expectations, according to the latest ADP National Employment Report.
This is significantly above Econoday’s estimate of 213,000 with the high-end estimate at 240,000.
"The June jobs number is a welcome boost,” said Carlos Rodriguez, president and CEO of ADP. “The number of construction jobs added was particularly encouraging, representing the highest total in that industry since February of 2006.”
Broken up, small businesses added 117,000 jobs, medium businesses added 115,000 and large businesses added 49,000.
Small business growth is up from 82,000 in May and represents the highest number since February 2012
"The job market is steadily improving. Job gains are broad based across all industries and company sizes. Judging from the job market, the economic recovery remains fully intact and is gaining momentum,” Mark Zandi, chief economist of Moody’s Analytics, said.
(Source ADP, click for larger image)