Thursday, 05 July 2018

ADP: U.S. Economy Added 177,000 Jobs in June; May’s Numbers Revised Upward to 189,000

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ADP’s National Employment Report for June shows a robust jobs market, with the U.S. economy adding another 177,000 new jobs, while revising May’s numbers up by 11,000 to 189,000.

More than 60 percent of the job growth is happening in small- and medium-size companies, and it is taking place in every sector of the economy. The only exception is Information Technology (IT), which shrank by a nearly imperceptible 2,000 jobs in June. Small and medium-size companies added more than 100,000 jobs, while the goods-producing sector (natural resources, mining, construction, and manufacturing) added 29,000 jobs in June. In the service sector, every category except IT (trade, financial, business services, education, health service, and leisure and hospitality) showed job gains for the month.

This is a reflection of most Americans’ view of the jobs market, as reported by Gallup in its latest poll: “Americans continue to recognize a robust U.S. job market, with 65 percent [of those polled from June 1 through June 13] saying that it is a good time to find a ‘quality job,' similar to May. These are the highest readings in Gallup’s 17-year history of tracking this measure of Americans’ view of the employment situation.”

In addition, according to Gallup, a majority of Americans say the economy is getting even better, “as high as that measure has been since 2004.”

During the Obama years, Gallup’s numbers ranged from a low 8 percent to a high of 45 percent.

ADP’s numbers are likely to be confirmed by a report to be released by the Department of Labor’s Bureau of Labor Statistics (BLS) on Friday morning.

Photo: Clipart.com

An Ivy League graduate and former investment advisor, Bob is a regular contributor to The New American magazine and blogs frequently at LightFromTheRight.com, primarily on economics and politics. He can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it..

 

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