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Tuesday, April 16, 2024
HomeNewsEconomyPrivate Sector Employment Gains 2,369,000 Jobs in June, Historic Rebound in May

Private Sector Employment Gains 2,369,000 Jobs in June, Historic Rebound in May

Man reading newspaper with the headline Job Market. (Photo: AdobeStock)

Private Sector Employment Revised from -2,760,000 to 3,065,000 for May

Roseland, N.J. (PPD) — The ADP National Employment Report found private sector employment increased by 2,369,000 jobs in June and the prior month was revised to show historic job gains. The historic gains come after a historic loss in April.

“Small business hiring picked up in the month of June,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “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.”

While the headline number missed the forecast, a large and expected upward revision to the month prior more than makes up for the miscalculation. The May total of jobs added was revised from -2,760,000 to 3,065,000.

By Company Size

– Small businesses:    937,000

  • 1-19 employees    574,000
  • 20-49 employees    363,000

– Medium businesses:    559,000

  • 50-499 employees    559,000

– Large businesses:    873,000

  • 500-999 employees    101,000
  • 1,000+ employees    772,000

By Sector

– Goods-producing:    457,000

  • Natural resources/mining    -26,000
  • Construction    394,000
  • Manufacturing    88,000

– Service-providing:    1,912,000

  • Trade/transportation/utilities    288,000
  • Information    -50,000
  • Financial activities    65,000
  • Professional/business services    151,000
         – Professional/technical services    10,000
         – Management of companies/enterprises    -29,000
         – Administrative/support services    169,000
  • Education/health services    283,000
         – Health care/social assistance    246,000
         – Education    36,000
  • Leisure/hospitality    961,000
  • Other services    215,000

* Sum of components may not equal total, due to rounding.

– Franchise Employment**

  • Franchise jobs    4,500

**Complete details on franchise employment can be found here.

Written by

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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