ADP Reports Lower-Than-Expected Private Payroll Growth for June

FxEmpire ^ | 7/3/24

[EBH]

Key Points: June sees private payroll addition of 150,000 jobs Leisure and hospitality sector adds 63,000 jobs Wage growth slows, smallest rise since August 2021

The leisure and hospitality sector led the gains, adding 63,000 jobs. This sector’s surge significantly bolstered the overall employment figures. Without this boost, the job addition numbers would have been much lower. Other sectors showing job increases included:

Construction: 27,000 jobs Professional and Business Services: 25,000 jobs Other Services: 16,000 jobs Trade, Transportation, and Utilities: 15,000 jobs Conversely, several sectors experienced declines:

Natural Resources and Mining: -8,000 jobs Manufacturing: -5,000 jobs Information: -3,000 jobs

ADP’s chief economist, Nela Richardson, highlighted that while job growth has been solid, it has not been widespread. “Had it not been for a rebound in hiring in leisure and hospitality, June would have been a downbeat month,” she said.

[EBH]

63,000 jobs in leisure and hospitality...

So where are these people getting all this money to spend on leisure activities?

[frogjerk]

So where are these people getting all this money to spend on leisure activities?

Either they are not spending as much - "Staycations" or there is still a little left on their credit cards.

Just like Chernobyl was the damn that broke against the Commies the absolute failure of Uncle Joe at the debate will cause the damn to burst in politics and economics.

Think of all of the people that have been carrying water for the old man. If he is incapacitated, steps aside or is forcibly removed all of rats will jump ship to their respective rat-holes and rat-kings/queens/others and spill their guts.

ITS HAPPENING!

[montag813]

In case you haven’t noticed the stock market, is at an all-time high, a long with real estate. Lots of people are flush with profits.

[kaktuskid]

Stock Market is high only due to a handful of companies, like Nvidia and the FANGS.

[montag813]

Stock Market is high only due to a handful of companies, like Nvidia and the FANGS.

The S&P 500 is at an all-time high. Most investors are in index funds.