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ADP off the charts, about half coming from leisure, hospitality, breadth otherwise mixed/Claims

ADP off the charts, about half coming from leisure, hospitality, breadth otherwise mixed/Claims

Peter Boockvar
Jul 06, 2023
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The June ADP private sector job growth blew away expectations showing a net 497k increase, more than double the estimate of 225k and compares with the 267k gain in May. The breadth though was mediocre. A large chunk of the rise was in the leisure and hospitality sector which saw a gain of 232k jobs. That’s the biggest increase since September 2021. Also…

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