Private-sector payrolls in the United States picked up in June, suggesting that unemployment may have declined, according to a report released today by payrolls-processor Automatic Data Processing Inc.
According to ADP’s data, private-sector payrolls rose 176,000 in June, led by small businesses and the service-providing sector.
The May level was revised to a gain of 136,000 from a prior estimate of 133,000.
Markets look to ADP’s report on private-sector payrolls to provide some guidance on the U.S. Labor Department’s jobs estimate, which will be released Friday.
“Today’s estimate, if reinforced by a comparable reading on employment from the Bureau of Labor Statistics tomorrow, likely will ease concerns that the economy is heading into a downturn,” said Joel Prakken, chairman of Macroeconomic Advisers, which produces ADP’s report.
Meanwhile, the U.S. Labor Department reported that weekly initial claims for regular state unemployment-insurance benefits declined to the lowest level in six weeks.
In Wisconsin, initial unemployment claims fell last week to 9,926 from 10,576, according to the latest seasonally adjusted data from the Wisconsin Department of Workforce Development.
