Here's what to expect from Friday's jobs report | CNN Business

  • 📰 CNN
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 95%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Here’s what to expect from Friday’s jobs report

ADP’s National Employment Report, produced in a collaboration with the Stanford Digital Economy Lab, showed that the private sector added 497,000 jobs last month, far exceeding economists’ expectations for 228,000 jobs and ADP’s May total of 267,000 hires. While ADP’s tabulations don’t always correlate with the official federal jobs report, set to be released at 8:30 a.m. ET Friday, it’s sometimes viewed as a proxy for overall hiring activity.

was released 90 minutes thereafter. Consensus estimates for ADP’s report were for 228,000 net job gains in the private sector during June, according to Refinitiv estimates, which have an even wilder range of 95,000 to 334,000 jobs. The actual tally for June of 497,000 jobs added, however, blew those estimates out of the water. The bulk of the gains came from service industries, specifically leisure and hospitality businesses, according to ADP.

, May job openings fell to 9.82 million, dropping from an upwardly revised 10.3 million in April, according to the BLS. The May data showed that the number of new hires rose to 6.21 million from 6.1 million, quits jumped up to 4.02 million from 3.77 million and layoffs dipped to 1.56 million from 1.59 million. Job cuts dip in June Weekly jobless claims increased to 248,000 for the week ended July 1, the Department of Labor reported Thursday.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Payrolls report Friday likely to show a jobs market that is still hotThe consensus estimate is that payrolls rose by another 240,000 in June and the unemployment rate is projected to nudge lower to 3.6%.
Source: CNBC - 🏆 12. / 72 Read more »