ADP Report Shows Modest Hiring Gains Amid Labor Market Slowdown
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ROSELAND, N.J. - Private sector employment increased by 98,000 jobs in June while year-over-year pay rose 4.4 percent, according to the ADP National Employment Report produced by ADP Research in collaboration with the Stanford Digital Economy Lab. The report, based on anonymized payroll data from more than 26 million U.S. private-sector employees, provides a high-frequency snapshot of labor market conditions. ADP's Pay Insights, drawing from over 15 million pay change observations monthly, further details wage trends. "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 at ADP. "For now, the overall effect is a slowdown in job creation." Job gains were uneven across industries. Service-providing sectors added 96,000 positions, led by education and health services with 48,000 new jobs. Financial activities gained 14,000, information added 7,000, and trade/transportation/utilities grew by 15,000. Leisure and hospitality posted only 2,000 jobs for the sixth consecutive month of weak hiring. Goods-producing industries added just 2,000 positions, with manufacturing up 5,000, construction adding 2,000 and natural resources/mining declining by 5,000. By firm size, small establishments (1-49 employees) led...
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