The Private Sector Added 237,000 Jobs In June

Employment Numbers Private Sector - June 2015

U.S. private employers added 237,000 jobs in June, the biggest gain since December. News of the increase has many analysts believing the Federal Reserve will follow through on its promise and raise interest rates later this year.

In a survey by Reuters, economists had forecast the ADP National Employment Report would show a gain of 218,000 jobs.

The report also revised May private payroll numbers up to 203,000 from an original report of 201,000, the smallest gain since January 2014.

The ADP payroll numbers in conjunction with Moody’s Analytics, arrive ahead of the U.S. Labor Department’s more comprehensive non-farm payrolls report on Thursday. That report includes both public and private-sector employment.

Economists polled by Reuters were looking for an increased of 230,000 in U.S. employment for June, down from May’s 280,000 increase.

The unemployment rate was also forecast to slip 5.4 percent from 5.5 percent. If those numbers hold true it would be the lowest unemployment rate in seven years.

  • jackson chang

    We have a a very low labor usage, and 7 million involuntarily part time workers (versus a norm of 2 million) and flat or declining wage growth.

    The fossil fuel energy sector has really been creating wealth, but that’s while swimming against the tide of regulation. Thankfully, the energy producers have still managed to innovate.

    Meanwhile, costs for the average family have risen—my own health care insurance costs doubled (mine is up to $550/month… contrast this to my $26/month auto insurance from Insurance Panda… or my $12/month renters insurance from Eagle… both private-enterprise!).

    I suppose we can all buy new Apple iphones, so the unemployed can speak to each other (probably on credit, like 40% of what the government spends), or we can pretend that the script printed by the fed was real wealth. The fed was printing about 6.5% of GDP worth of script and measuring (somehow) a 2% growth in economic activity. Do we measure the movement of printed script as wealth creation?