ADP June jobs estimate below expectations; tough to find qualified workers

Private-sector employment increased by 177,000 in June, on a seasonally adjusted basis, ADP estimated Thursday.

In May, ADP says 189,000 jobs were added, compared to its previous estimate of 178,000.

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Economists surveyed by IFR Markets projected an 187,000 job gain for June.

“The labor market continues to march towards full employment,” according to Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Healthcare led job growth once again and trade rebounded nicely.”

“Business’ number one problem is finding qualified workers,” said Mark Zandi, chief economist of Moody’s Analytics. “At the current pace of job growth, if sustained, this problem is set to get much worse. These labor shortages will only intensify across all industries and company sizes.”

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