US ADP Report: job growth slowdown

Today ADP employment numbers were released from the US for the month of June.

ADP number shows the US labor markets remains strong.

There are two things to note in the headline that,

• US weakness could be weakening. Trump-driven recovery doubtful.

• May payroll got a revision. It has now revised to 230,000 (down from 253,000).
   

Key highlights –

• Non-farm private sector employment grew at 158,000 in June, the median expectation was for 185,000.
• Small business sector hiring at 17,000, compared to 83,000 last month.
• Employment in franchise increases to 18,400 compared to last month’s 18,400.
• Mid-sized companies added 113,000 jobs compared to last month’s 113,000 jobs.
• The Large sector added just 57,000 compared to last month’s 57,000 jobs.
• Manufacturing sector payroll registered 6,000 job gains compared to 8,000 job gain last month.
• No job was gained in the goods-producing sector, compared to last month’s 48,000 jobs gain.
• The construction sector saw 2,000 jobs loss, compared to last month’s 37,000 jobs loss.
• Services sector employment remains robust as payroll added 158,000 people in June. May gain was 165,000.

The dollar index is currently trading at 99.95, down 0.25% for the day so far.