US ADP Employment Change Jun: 692K (est 600K; prevR 886K; prev 978K) - June beats but May revised down - Service jobs continue to come back - details

 US ADP Employment Change Jun: 692K (est 600K; prevR 886K; prev 978K)





Beat this month from APD, but May was revised down by roughly the amount of the beat, and it was a deceleration (as expected) but still showed solid job growth with services jobs (+624k) again making up the vast majority of the job gains (full tables below).   

With the exception of IT (for a fourth consecutive month) and professional management (which lost 1k)  every size and sector showed solid if not robust growth, with a very equal distribution by company size .  Again this month leisure and hospitality made up more than half of the service sector gains.  Goods producing jobs up 68k roughly half of last month.  From the report:
“The labor market recovery remains robust, with June closing out a strong second quarter of jobs growth,” said Nela Richardson, chief economist, ADP. “While payrolls are still nearly 7 million short of pre-COVID-19 levels, job gains have totaled about 3 million since the beginning of 2021. Service providers, the hardest hit sector, continue to do the heavy lifting, with leisure and hospitality posting the strongest gain as businesses begin to reopen to full capacity across the country.”
Here were the details.








To see more content, including summaries of major economic reports and my morning and nightly summaries go to https://sethiassociates.blogspot.com

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