Investing.com – U.S. non-farm private employment rose significantly more-than-expected in June, industry data showed on Thursday.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 157K in June, blowing past expectations for a 60K increase.
The previous month’s figure was revised down to 36K from a gain of 38K.
The report said employment in the service-providing sector rose by 130K in June, nearly three times faster than in May, marking 18 consecutive months of employment gains.
Employment in the goods-producing sector rose by 27K, more than recversing a decline of 10K in May.
Manufacturing employment rose 24K in June, which has seen growth in seven of the past eight months.
Following the release, the U.S. dollar was down against the euro, with EUR/USD slumping 0.51% to trade 1.4245.
Meanwhile, U.S. stock index futures added to gains after the release of the data. The Dow Jones Industrial Average futures indicated a rise of 0.6%, S&P 500 futures pointed to an increase of 0.85%, while the Nasdaq 100 futures climbed 0.75%.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 157K in June, blowing past expectations for a 60K increase.
The previous month’s figure was revised down to 36K from a gain of 38K.
The report said employment in the service-providing sector rose by 130K in June, nearly three times faster than in May, marking 18 consecutive months of employment gains.
Employment in the goods-producing sector rose by 27K, more than recversing a decline of 10K in May.
Manufacturing employment rose 24K in June, which has seen growth in seven of the past eight months.
Following the release, the U.S. dollar was down against the euro, with EUR/USD slumping 0.51% to trade 1.4245.
Meanwhile, U.S. stock index futures added to gains after the release of the data. The Dow Jones Industrial Average futures indicated a rise of 0.6%, S&P 500 futures pointed to an increase of 0.85%, while the Nasdaq 100 futures climbed 0.75%.