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ADP Jobs Climb, Unemployment Claims Fall

Posted by Joseph Trevisani on Jul 3, 2013 8:51:00 AM

Companies added 188,000 workers to their rolls in June, substantially more than the 160,000 predicted by analysts, according to ADP the private  payrolls company.

Weekly jobless claims fell 5,000 to 343,000, economists had forecast 345,000. The four-week moving average declined to 345,500, a drop of 750 from the previous week.

The ADP report was a large improvement on May's 134,000 payroll additions and with the steadily falling, albeit slowly, jobless claims the job markets continues its steady  healing.

The government reports Friday on the nationwide employment situation with 165,000 new jobs expected, following the May result of 175,000. The unemployment rate is forecast to remain at 7.6%. In general between 125,000 and 150,000 new positions are needed each month to keep up with population growth.

Small businesses again set the pace in job creation adding 84,000 jobs, while medium-sized employed 55,000 and large businesses hired 49,000.

 

Joseph Trevisani

Chief Market Strategist

WorldWidwMarkets

Chart:FX Street

adp

 

 

 

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