Private sector job growth unexpectedly surges by 497,000 in June, ADP saysJuly 06, 2023 at 08:21 AM EDT
Private U.S. companies saw another month of better-than-expected job growth in June, despite the Federal Reserve's aggressive efforts to fight inflation.
Hiring by U.S. companies surged more than expected in June, pointing to a labor market that remains tight even in the face of higher interest rates, according to the ADP National Employment Report released Thursday morning. Companies added 497,000 jobs last month, more than double the 228,000 gain that economists surveyed by Refinitiv predicted. This is a developing story. Please check back for updates. 
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