REUTERS/Amira KaraoudWASHINGTON (Reuters) - U.S. private payrolls increased more than expected in June, indicating that the labor market remains strong despite growing risks of a recession from higher interest rates.
Private payrolls jumped by 497,000 jobs last month, the ADP National Employment report showed on Thursday.
Economists polled by Reuters had forecast private employment increasing 228,000.
A survey last month showed consumers’ perceptions of the labor market more upbeat in June relative to May.
According to a Reuters survey of economists, private payrolls likely increased by 200,000 jobs in June.
Persons:
Amira Karaoud WASHINGTON, payrolls
Organizations:
REUTERS, ADP, Reuters, Fed, Stanford Digital Economy, Labor Department’s Bureau of Labor Statistics
Locations:
Louisville, U.S