The non-farm private sector added 98,000 jobs in June, and annual pay was up 4.4% year-over-year, according to the ADP National Employment Report. This follows an unchanged May report of 122,000.
Small businesses with fewer than 50 added 53,000 jobs. Medium-sized businesses with 50–499 employees added 29,000 jobs, while large businesses gained 25,000 jobs.
“The pace of hiring is telling a story of both supply and demand. We know it’s taking people longer to find work, but there also are signs of labor supply constraints in certain industries,” said Dr. Nela Richardson, chief economist, ADP. “For now, the overall effect is a slowdown in job creation.”
Service-providing employment added 96,000 jobs, driven by education/health services gaining 48,000 jobs, followed by trade/transportation/utilities gaining 15,000 and financial activities gaining 14,000.
Goods-producing employment gained 2,000 jobs. Natural resources/mining lost 5,000 while construction and manufacturing added 2,000 jobs and 5,000 jobs respectively.
Read the ADP report.
