ADP employment in the United States increased by 692000 in June, higher than market expectation

According to the data released by ADP, the number of construction employment increased by 47000 in June and 65000 in May; The number of manufacturing employment increased by 19000 in June and 52000 in May; In June, the number of trade / transportation / public utility employees increased by 62000, compared with 118000 in May; Employment in financial services increased by 10000 in June and 20000 in May; Employment in the professional / business services sector increased by 53000 in June, compared with 68000 in May.
NELA, chief economist at ADP, said the recovery in the job market remained strong, with strong employment growth in the second quarter. Novel coronavirus pneumonia is still nearly 7 million less than the current outbreak of new pneumonia, but since the beginning of 2021, the number of new jobs has risen to about 3 million. Service providers are the hardest hit industries and continue to bear a huge burden. As enterprises across the country begin to return to work, the growth of leisure and hotel industry is the strongest.
Private sector employment grew faster than expected in June due to a surge in hotel recruitment, media said. The bad news is that the initial report of 978000 people in May has been significantly revised to 886000, although the revised figure is still the best month since September 2020.
After the announcement of ADP employment in June in the United States, the futures of the three major U.S. stock indexes rose, with Dow futures up 0.02%, S & P 500 futures up 0.02% and Nasdaq futures up 0.05%; The yield on the US 10-year bond fell to 1.452%; Spot gold fell slightly by $2 in the short term.

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