Finally, some positive news on the job market that reflects what we are seeing.
The private sector jobs market in the U.S. saw a sharp rebound in June, according to the ADP National Employment Report. ADP said private business employment rose 157,000 during the month, more than double a 70,000 increase economists had predicted.
Employment in the service sector rose 130,000 in June, nearly three times faster than in May, marking the 18th consecutive month of gains in the sector. Goods-producing employment rose 27,000 during the month, reversing a 10,000 decline in May. Manufacturing employment rose 24,000 in June, the eighth straight month of gains.
Small business added 88,000 jobs in the month, medium businesses added 59,000 and large business added 10,000.
The ADP report comes ahead of Friday’s important nonfarm payrolls report from the government, which is looking for a gain of 100,000 jobs in the month."
From the Streetinsider.com, read rest of article here,