Tuesday, February 20

US Corporate Job Growth Stronger Than Expected

Employment in the US corporate sector grew faster than expected in June, although it was somewhat less potent than in May. According to payslip processor ADP, 692,000 new corporate jobs were created in the United States last month.

 

Economists had expected on average 600,000 new jobs.

The May figure was revised down to 886,000 new jobs. An increase of 978,000 jobs was previously reported here. According to ADP, more jobs were created in June, especially in the leisure and hospitality sectors, helped by the further easing of the corona measures, which led to a sharp increase in demand for staff. But there was also a big plus in education and health care.

“The labour market recovery remains robust,” said ADP economist Nela Richardson. “While employment is still nearly 7 million jobs below pre-coronavirus levels, 3 million new jobs have been added since the beginning of this year. In particular, the service sector, especially the leisure and hospitality sectors that have been hit hardest, is doing well, as businesses reopen across the country.”

ADP’s data comes ahead of the monthly jobs report released by the US government on Friday. This study also includes developments in the public sector.

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