Private U.S. businesses added 281,000 jobs in June, Automatic Data Processing Inc. (ADP) said Wednesday. The widely followed report beat economists' projections of 210,000 jobs created last month.
According to the ADP report, small businesses (fewer than 50 employees) added 117,000 jobs; medium-sized businesses (50 to 499 employees) added 115,000 jobs; and large businesses (500 or more employees) added 49,000 jobs. ADP said professional/business services led the way with 77,000 new jobs, followed by trade/transportation/utilities with 50,000 new jobs and construction with 36,000.
"The June jobs number is a welcome boost," Carlos Rodriguez, ADP's president and CEO, said in a statement. "The number of construction jobs added was particularly encouraging, representing the highest total in that industry since February of 2006."
June's ADP report is the highest of 2014, besting April's 220,00 new jobs. For all of 2014, ADP reports averaged 197,500, but USA Today notes the slow growth in January and February was due to the winter weather.
Mark Zandi, chief economist of Moody’s Analytics, said in a statement, "The job market is steadily improving. Job gains are broad based across all industries and company sizes. Judging from the job market, the economic recovery remains fully intact and is gaining momentum."
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