ADP Employment Change jumps to +2.36 million in June

Employment in the US’ private sector rose by 2,369,000 in June, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday.

This reading followed May’s increase of 3,065,000 (revised from -2,760,000) and came in worse than the market expectation of +3 million.

Commenting on the data, “Small business hiring picked up in the month of June,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “As the economy slowly continues to recover, we are seeing a significant rebound in industries that once experienced the greatest job losses.”

Market reaction

The US Dollar Index largely ignored this data and was last seen gaining 0.16% on a daily basis at 97.55.

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