Hiring by the US private sector rose more than expected this month driven by the leisure and hospitality sectors, as rising vaccinations and reopenings across the country continue to boost the labour market.
US private payrolls rose by 692,000 in June, according to a report from payroll processor ADP. That was ahead of economists’ expectations for a 600,000 increase, according to a survey by Refinitiv, though it was slower than the 886,000 jobs added in May.
“The labour market recovery remains robust, with June closing out a strong second quarter of jobs growth,” said Nela Richardson, chief economist at ADP.
While payrolls are nearly 7m short of pre-pandemic levels, about 3m jobs have been created since the start of the year.
Large businesses with more than 500 employees accounted for the bulk of the growth with 240,000 hires. And the service sector, which was hardest hit by pandemic-driven lockdowns, drove hiring, adding 624,000 jobs and within that, leisure and hospitality accounted for 332,000 jobs. Meanwhile, the goods-producing sector created just 68,000 jobs….
