ADP: US Jobs Growth Slowed In June
Growth of employment in the private sector of the US stalled in June, contrary to the forecasts of experts. According to the report of Automatic Data Processing (ADP), the number of employed increased by 177.000 in June compared to the figure for May at 178.000. Analysts had expected that the number of employed will increase by 190.000. Private sector jobs growth was revised to 189.000 in May from a previously reported 178.000.
The ADP report comes ahead of the Labor Department's non-farm payrolls report (NFP) on Friday, which includes both public and private-sector employment. Economists are expecting the US economy to have added 200.000 jobs in June after adding 223.000 positions in May. The unemployment rate is forecast to remain steady at 3.8%.