ADP: 150,000 Jobs Added in June

Roseland, NJ, July 5, 2007--According to today’s ADP National Employment Report SM, private sector employment increased by 150,000 in June.

“Nonfarm private employment grew 150,000 from May to June of 2007 on a seasonally adjusted basis, according to the ADP National Employment Report,” said Joel Prakken, Chairman of Macroeconomic Advisers, LLC. “This month’s ADP National Employment Report suggests an acceleration of employment. The three-month average change in nonfarm private employment has increased from 75,000 in April, to 86,000 in May, to103,000 in June, according to the ADP Report.

The acceleration of employment is broadly consistent with the upturn in GDP growth early in 2007 and other labor market indicators such as unemployment claims.” Prakken added, “In June, employment in the service-providing sector of the economy grew a robust 163,000, while employment in the goods-producing sector declined 13,000.

This marks the seventh consecutive monthly decline in the goods-producing sector, but the smallest since an increase of 18,000 in November of last year. Employment in the manufacturing sector also declined 13,000.”

“Small- and medium-size businesses more than accounted for the increase in total employment in June. Gains in employment at these businesses were concentrated in the service-providing sector of the economy. However, employment among small-size businesses in the goods-producing sector also rose 7,000, in contrast to an overall decline in employment among goods-producing businesses of all sizes,” said Prakken.