June private payrolls rose by 157,000: ADP

Companies in the U.S. private sector added 157,000 jobs in June, according to Automatic Data Processing Inc's employment report released Thursday. The gain follows a revised gain of just 36,000 in May, down from the initial estimate of a 38,000 gain. The June reading was well above analysts' expectations of a gain near 70,000. According to ADP, the goods-producing sector added 27,000 jobs in June, including 24,000 in manufacturing. The service sector added 130,000 jobs.

June Private Payrools Rose by 157, 000: ADP

Good to see Maccas is still hiring.

The Labor Department says applications for benefits dropped by 14,000 to a seasonally adjusted 418,000.

Applications have topped 400,000 for 13 weeks, evidence the job market has weakened since the beginning of the year. Applications had fallen in February to 375,000, a level that signals sustainable job growth. They stayed below 400,000 for seven of the next nine weeks. But then applications surged to an eight-month high of 478,000 in April and have shown only modest improvement since.

Unemployment Levels Fall to Lowest Level in Seven Weeks

But still above 400k which isn't promising - just yet.

Now which is the more important indicator? ADP figures or NFP, due tomorrow?

reply to post by surrealist


More lies just like obama is lying what did you expect and yet for the Markets to be doing so well for the rich?


The comment on CNN comment is hilarious

geez how about just a little more optimism?

Heres the link from CNN

CNN Jobs Data

U.S. stocks recovered from early losses to close near session highs Wednesday. The rebound came after EU officials pushed back against recent downgrades of Greek and Portuguese debt, raising speculation that the union could move to minimize the impact of the ratings agencies.

The Rich dont care if the poor or the middle class get stabbed.

Economists surveyed by CNNMoney are expecting the report to show 120,000 jobs added to payrolls. Typically, the economy needs to add about 150,000 just to keep pace with population growth.

Sure it will just more like the fake data eh?

The government reported that 418,000 people filed for unemployment in the week ended July 2. Economists surveyed by Briefing.com had expected a total of 425,000 jobless claims last week.

Government jobs i bet and Economists surveyed by Briefing.com had expected a total of 425,000 jobless claims last week?? how trusted is Briefing.com not much? :

Okay lying aside, it could just well be seasonal jobs that coincide with US summer seasons. This would mean, that these jobs are 'transient' - to borrow Bernanke's terminology. Besides 157k jobs is nothing to get too excited about in light of current UE levels persisting. We'll see what the NFP data reveals.