Employment Report for June 2021 by ADP
The latest ADP Small Business Report reveals a robust job market recovery in the United States, with small businesses adding 215,000 jobs between May and June. Indeed, goods producing businesses accounted for 15,000 of the new jobs, while the leisure and hospitality industry experienced a significant gain due to states' re-openings, unleashing consumer demand. The service industry contributed an additional 200,000 new jobs. Indeed, franchise businesses, including restaurants, added 104,100 jobs in June. Restaurants alone accounted for 86,600 of these positions. The growth in jobs for businesses with 1-19 employees was 93,000, and for those with 20-49 employees, it was 122,000. The leisure and hospitality industry is expected to continue to be a key driver in the overall recovery, according to Richardson. However, ongoing health concerns and limited affordable child and elder care remain barriers to filling jobs. Unemployed workers receiving compensation are also delaying re-entering the workforce, and more than 2.7 million jobs remain uncovered, stalling the re-employment rate. ADP, a leading provider of human capital management solutions, uses government sources, such as the Bureau of Labor Statistics, the quarterly census of employment and wages from the BLS, and Census bureau information about companies and numbers of employees to compile the data. The data source for the ADP Small Business Report in June 2021 is based on private payroll data collected by ADP from its client businesses, primarily reflecting the employment activity of small businesses in the United States. ADP uses payroll data from about 460,000 businesses, representing about 1/5 of all US private employment. The report emphasises the importance of small businesses in driving the nation's economic recovery. While the summer season is a stronger period for the leisure and hospitality industry, consumer demand is expected to ebb over time. The report serves as a reminder that while progress is being made, there are still challenges ahead in the road to a full economic recovery.
Read also:
- The Cost of Speech is Zero, True Strength Lies in Unity
- Beginning a Food Truck Venture: Crucial Stages to Achieve Profitability
- Aiming to simplify the move towards cleaner automobiles, the newly established ministry plans to take direct action with Pannier-Runacher, Létard, and Vautrin at the helm.
- "The imperfect yet essential documentary, "Planet of the Humans," raises challenging and uncomfortable inquiries"
