US Private Sector Adds 692,000 Jobs in June on Robust Labor Market Recoveries

Source: ADP National Employment Report

Employment in the US private sector rose by 692,000 in June from May. The job gains underlined robust recoveries in the labor market. SPY gains +0.11%, QQQ is down -0.068%, DXY is up +0.19%

• Large businesses added the most jobs in June at 240,000.
• Medium businesses generated 236,000 jobs, while small businesses added 215,000.
• By sector, service businesses rebounded strongly, with 624,000 jobs added.
• Franchise jobs totaled 104,100, while goods-producing businesses added 68,000 jobs.
• Job gains since the beginning of this year is now about 3 million, although payrolls are still almost 7 million below the pre-pandemic levels.