Private payrolls added 237,000 jobs last month, according to The ADP National Employment Report, the most in six months.
(Photo Credit: photologue_np/Flickr)
“The U.S. job machine remains in high gear,” said Mark Zandi, chief economist of Moody’s Analytics, which prepares the report with ADP. “The current robust pace of job growth is double that needed to absorb the growth in the working age population.”
Zandi predicts an average 250,000 gains per month for the rest of 2015, just slightly less than last year’s average of 260,000 jobs added per month.
Construction added 19,000 jobs in June, according to ADP, while manufacturing added 7,000 jobs. Trade, transportation, and utilities added 50,000 jobs, financial activities 19,000, and professional and business services added 61,000 jobs.
“The only blemish in the job market is the loss of jobs in the energy sector,” he says. “Most encouraging is the healthy rate of job growth among the nation’s smallest companies.”
Small businesses with fewer than 50 employees added 120,000 jobs last month, while medium-sized businesses (50 – 499 employees) added 86,000 jobs, and large businesses (500-plus employees) added 32,000 jobs.
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