The non-farm private sector added 172,000 jobs in June, according the ADP National Employment report, an increase from June’s downwardly revised growth of 168,000. Service-providing employment provided all of the month’s growth, while the goods-producing sector shed jobs during the month.
Small businesses with fewer than 50 employees added 95,000 jobs, up from 84,000 in May. Medium-sized businesses with 50-499 employees added 52,000 jobs, down from 60,000 last month. Large businesses added 25,000, up from 23,000 in May.
Service providing employment rose by 208,000 jobs as the trade transportation and utilities and professional and business services sectors both grew upwards of 50,000 jobs. In contrast, goods-producing employment fell by 36,000 jobs amid sharp cuts in the manufacturing and construction industries.
“Since the start of 2016, average monthly job creation has slightly dropped,” said Ahu Yuldirmaz, vice president and head of the ADP Research Institute. “Lackluster global growth, low commodity prices, and an unfavorable exchange rate continue to weigh on U.S. companies, especially larger companies.”
Read the ADP release.
