Accounting
Report: 281,000 Jobs Added in June
U.S. private sector businesses added 281,000 jobs from in June according to the June National Employment Report, which is produced monthly by payroll and business services company ADP in collaboration with Moody’s Analytics.
Jul. 02, 2014
U.S. private sector businesses added 281,000 jobs from in June according to the June National Employment Report, which is produced monthly by payroll and business services company ADP in collaboration with Moody’s Analytics.
The report uses the actual payroll data that ADP produces through service to its business clients, and measures the change in total non-farm private employment each month on a seasonally-adjusted basis.
Goods-producing employment rose by 51,000 jobs in June, up from 31,000 jobs gained in May. The construction industry added 36,000 jobs over the month, more than double the May number. Meanwhile, manufacturing added 12,000 jobs in June, up slightly from last month.
| Total U.S. Nonfarm Private Employment: |
281,000 |
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| • By Company Size | ||||
| • Small businesses: |
117,000 |
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| · 1-19 employees |
66,000 |
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| · 20-49 employees |
51,000 |
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|
|
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| • Medium businesses: |
115,000 |
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| · 50-499 employees |
115,000 |
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|
|
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| • Large businesses: |
49,000 |
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| · 500-999 employees |
16,000 |
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| · 1,000+ employees |
32,000 |
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| • By Sector | ||||
| • Goods producing |
51,000 |
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| • Service providing |
230,000 |
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| • Industry Snapshot | ||||
| • Construction |
36,000 |
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| • Manufacturing |
12,000 |
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| • Trade/transportation/utilities |
50,000 |
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| • Financial activities |
11,000 |
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| • Professional/business services |
77,000 |
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Service-providing employment rose by 230,000 jobs in June, up from 148,000 in May. The ADP National Employment Report indicates that professional/ business services contributed 77,000 jobs in June, up from 46,000 in May. Expansion in trade/transportation/utilities grew by 50,000, up from May’s 36,000. The 11,000 new jobs added in financial activities was about double last month’s number.
“The June jobs number is a welcome boost,” said Carlos Rodriguez, president and chief executive officer of ADP. “The number of construction jobs added was particularly encouraging, representing the highest total in that industry since February of 2006.”
Mark Zandi, chief economist of Moody’s Analytics, said, “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.”
Payroll growth for businesses with 49 or fewer employees increased by 117,000 jobs in June. That’s up from 82,000 in May and represents the highest number since February 2012. Job growth rebounded over the month for medium-sized and large firms. Employment among medium-sized companies with 50-499 employees rose by 115,000, up from 62,000 in May. Employment at large companies – those with 500 or more employees – increased by 49,000, up from 36,000 the previous month. Companies with 500-999 employees added 16,000 jobs after shedding 3,000 in May.