ADP: Payrolls Up 13,000, Way Down From Forecast

ADP’s national employment report says June private payrolls increased 13,000, well below the median forecast of 60,000 new jobs in a Thomson Reuters survey of economists. The ADP report is a precursor to the monthly payroll report the federal government will release Friday.

“Large companies are regaining confidence and appear to be dipping their toes back in the water of hiring again,” said Diane Swonk, chief economist at Mesirow Financial. “Small businesses, which generate the lion’s share of new jobs in the U.S., however, remain hesitant to hire.”

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