03/29/2024

Private Companies Added 237,000 Jobs in June vs. Est. of 218,000: ADP

Private companies in June created positions at the fastest clip this year, indicating a thaw in the labor market as summer began.

ADP reported that firms added 237,000 positions in the month, well above market expectations of 218,000.

Services again dominated the picture, with 225,000 new jobs (up from 192,000 in May), while goods-producing firms contributed a net 12,000.

Among industries, professional and business services led the way, with 61,000 new jobs, while trade, transportation and utilities contributed 50,000 and construction and financial activities added 19,000 each, according to the report ADP puts together in conjunction with Moody’s Analytics.

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