US Firms Add 1 Million Leisure And Hospitality Jobs In 3 Months

US Firms Add 1 Million Leisure And Hospitality Jobs In 3 Months

Private sector employers added 692,000 jobs in June, ADP said Wednesday. That was considerably more than expected (the market was looking for 600,000), but the range made the consensus all but meaningless. Nearly three-dozen economists forecast gains of anywhere from 388,000 to 1.25 million. Notably, May's blockbuster was revised lower by 92,000 (figure below). That took some of the shine off the headline beat for June. Hiring was evenly distributed across firm sizes, with small businesses
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4 thoughts on “US Firms Add 1 Million Leisure And Hospitality Jobs In 3 Months

  1. I was very surprised to learn that the ADP figures are NOT actual numbers. Rather, they are extrapolated from their customer data, or something like that. That may help explain some of the variance between between the ADP & BLS figures.

    Re: the impact of the Delta variant. Last week I saw an article about the Whitehouse response to it. Apparently they ruled out re-imposing mask and social distancing mandates because …. well, most of the new infections are in Trump country where such mandates will simply not be accepted. They hope to encourage Trumpers to get vaccinated. (That part is Onion-worthy.)

    Meanwhile, as Q2 comes to an end, where’s that “herd immunity” the geniuses on Wall Street assured us would be in place by now? In Vermont & Maine, perhaps, but not in Florida and Texas and Missouri and etc.

    1. The ADP methodology is here: https://adpemploymentreport.com/common/docs/ADP-NER-Methodology-Full-Detail.pdf It looks like ADP uses their customer payroll headcount,to estimate the economy-wide employment change. It would be interesting if ADP would report its raw customer payroll data as well, but it might not want to reveal that much about its own metrics?

      I don’t think a renewed federal mask/distancing mandate makes sense, as the states that need it will simply devote their energy to defying/litigating. I’d rather see federal assistance for vaccination efforts in the communities that are receptive.

  2. Herd immunity probably reached for Democrats. Losing 5% of Republicans will not likely swing races in those States, so no never mind.

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