Private Payrolls Estimated To Rise by 2.37 Million in June, May Revised Up By 5.2 Million

U.S. private payrolls increased by 2.369 million in June, the  ADP National Employment Report showed on Wednesday.

Data for May was revised up to show a 3.065 million rise in payrolls, instead of the previous estimate of a 2.76 decline.

Economists polled by Econoday had forecast private payrolls increasing by 3.5 million in June.

The ADP report, which is produced with Moody’s Analytics, is published in advance of the government’s more comprehensive monthly report on the employment situation. Last month, ADP showed payrolls shrinking by millions while the government’s report said the economy added 2.5 million jobs.