US private payrolls increase in June

ANKARA

US private payrolls increased 692,000 in June, according to ADP Research Institute’s national employment report released Wednesday.

Analysts expected an increase of 600,000 but the figure in May was revised down from 978,000 to 886,000.

Small and medium businesses added 215,000 and 236,000 jobs, respectively, while large businesses added 240,000 in May.

"The labor market recovery remains robust, with June closing out a strong second quarter of jobs growth," ADP chief economist Nela Richardson said in the report. "While payrolls are still nearly 7 million short of pre-COVID19 levels, job gains have totaled about 3 million since the beginning of 2021.”

Richardson said service providers, which was the hardest hit sector by the coronavirus pandemic, continued to recover with leisure and hospitality posting the strongest gain as businesses begin to reopen to full capacity.

The US government’s nonfarm payroll report will be released Friday and analysts expect it to show an increase of 700,000 jobs in June.