In signs of improving labour market situation,American private companies generated 157,000 new jobs in June. The figures in the latest ADP National Employment Report is way higher than general estimates,which projected about 70,000 new jobs last month. Private-sector employment increased by 157,000 from May to June on a seasonally adjusted basis., said the report released on Thursday. Employment in the services sector climbed by 130,000 in June,marking 18 consecutive months of job gains. In June,employment in the goods-producing sector rose 27,000 while that in manufacturing segment jumped 24,000. This month's jobs figures are a significant improvement over May's,particularly in light of last quarter's disappointing 1.9 per cent GDP growth, ADP's Chief Executive Officer Gary C Butler said in a statement. The Employment Report,prepared by ADP in partnership with Macroeconomic Advisers LLC,is derived from actual payroll data. Last month,small businesses - that have 1-49 employees - added 88,000 new jobs,while medium businesses,which have 50-499 people,generated 59,000 jobs. According to the report,large entities that have more than 499 people,created 10,000 jobs in June. Even though the US economy is slowly recovery,the country's labour market has been seeing sluggish for many months. Payroll employment growth at this pace usually implies a steady unemployment rate,perhaps even a modest decline. figures suggest that the economic recovery,which slipped in the spring,might have found new traction in early summer, said Macroeconomic Advisers LLC's Chairman Joel Prakken.
