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7/1, 2:16 PM (Source: TeleTrader)
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ADP: US private payrolls up 2.37 million in June

The number of jobs in the private sector in the United States rose by 2.37 million in June, according to the ADP National Employment Report released on Wednesday. The figure is slightly below analyst estimates.

Small companies added the most jobs at 937,000, followed by large companies which gained 873,000 employees. Meanwhile, jobs in medium-sized businesses were up by 559,000. The service sector led the job gains as it added 1,912,000 jobs last month, the report noted, as the leisure and hospitality industry hired the most.

"As the economy slowly continues to recover, we are seeing a significant rebound in industries that once experienced the greatest job losses. In fact, 70 percent of the jobs added this month were in the leisure and hospitality, trade and construction industries," Vice President and co-head of the ADP Research Institute Ahu Yildirmaz commented on the data.

May's report has been revised from 2,760,000 jobs lost to 3,065,000 jobs added.

Breaking the News / JC