U.S. private employers added 158,000 jobs in June, below economists' expectations, according to the ADP National Employment Report. Alicia Powell reports.
U.S. private employers added 158,000 jobs in June, according to the ADP National Employment Report. That's below economists' expectations. Also, the number from the previous month was revised down. Weak ADP pulled U.S. stocks down on Thursday. Investors believe it sets the stage for the U.S. Labor Department's jobs report on Friday. Bankrate's Mark Hamrick: (SOUNDBITE) MARK HAMRICK, SENIOR ECONOMIC ANALYST, WASHINGTON BUREAU CHIEF, BANKRATE.COM (ENGLISH) SAYING: "Well, I think the ADP report is one that tends to give us an idea about the intermediate-term trends in employment and, at one level, it can tell us that the outlook is likely reassuring for a respectable report from the Labor Department, meaning that we shouldn't see a huge downside surprise. But we also shouldn't bet on a huge upside surprise in a sense of the number of jobs that were added last month." Another set of data showed weekly jobless claims rose for the third straight week.