Wednesday, July 1, 2020

Private Payrolls Estimated To Rise by 2.37 Million in June, May Revised Up By 5.2 Million

U.S. private payrolls increased by 2.369 million in June, the ADP National Employment Report showed on Wednesday.

Data for May was revised up to show a 3.065 million rise in payrolls, instead of the previous estimate of a 2.76 decline.

Economists polled by Econoday had forecast private payrolls increasing by 3.5 million in June.

Last month, ADP showed payrolls shrinking by millions while the government's report said the economy added 2.5 million jobs.

ADP said small businesses, those with less than 50 employees, added 937,000 jobs in June.

Businesses with 500 or more employees added 873,000.

Manufacturers added 88,000 jobs while miners and drillers shrank by 26,000.

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