Published Date : Jul 03, 2014
A survey conducted by ADP, a global payroll services provider, said that private employers in the United States added up to 281,000 jobs in June 2014, as compared to 179,000 jobs a month earlier. This figure could also be an indication that the government’s jobs report could show a significant growth over the May 2014 total of 217,000 jobs. However, ADP’s survey only takes into account private businesses, and hence tends to differ from the government’s report that is more comprehensive.
Economic data published lately suggests that the U.S. economy is back on the growth track. In the automobile sector, sales hit 16.9 million units in June 2014, the highest since January 2006. The Institute for Supply Management reported that new manufacturing orders have touched a six-month high. Moody’s Analytics chief economist Mark Zandi said that indications of the job market getting stronger are being observed. Moody’s calculated job gains figures for ADP.
Most improvements that reflect in the ADP survey have occurred in the business services and professional services sector. This is a category not only that comprises higher-paying jobs such as engineers and accountants, but also temporary workers that are typically paid lower. According to the survey, goods manufacturers hired 51,000 employees in May, 31,000 higher than the previous month. The survey also states that small businesses with less than 50 employees hired about 117,000 employees last month. This substantial figure indicates growth in the construction sector where small firms comprise a large share.
According to economists, the soon-to-be-released government’s employment report will likely show the addition of 215,000 jobs in June 2014.