United States Adp Employment Change

Private businesses in the US added 150K workers to their payrolls in June 2024, the least in five months, and below forecasts of 160K and a downwardly revised 157K in May. The service-providing sector added 136K jobs, namely leisure/hospitality (+63K); professional/business services (+25K); trade/transportation/utilities (+15K); financial activities (+11K); education/health services (+9K), while job losses occurred in information (-3K). The goods-producing sector added 14K jobs, led by construction (+27K), while both natural resources/mining (-8K) and manufacturing (-5K) shed jobs. "Job growth has been solid, but not broad-based," said Nela Richardson, chief economist, ADP. "Had it not been for a rebound in hiring in leisure and hospitality, June would have been a downbeat month." Meanwhile, year-over-year pay gains for job-changers fell for the second month. Pay for job-changers was up 7.8 percent while pay growth for job-stayers held steady for the third month at 5 percent.