An independent study says that United States experienced substantial growth in June 2012. According to a survey conducted by the Automatic Data Processing, Inc. (ADP), in partnership with Macroeconomic Advisers, LLC, several industries in the United States got a boost last month. The increase in employment in several markets, particularly in the private industry, may have been sufficient to have a positive effect on the national unemployment rate.
The ADP Reports stated that the US economy created 176,000 jobs in June, most of which stemmed from the services industry. The construction industry, one of the badly battered markets in the country as seen in the big declines of employment in the months of April and May, rebounded last month and created 8,000 jobs. The financial sector, also one of the most-plagued industries in the country, has made a serious comeback and generated 11,000 jobs from May to June.
In terms of company size, significant growth has also been reported. The small business sector has created more than 93,000 jobs in the month of June. This further strengthens the fact that the US economy is heavily depending on small business organizations, many of which have less than 50 employees. Medium sized business organizations, those with 50 to 499 employees, have created 72,000, jobs last month. Big corporations, those with 500 or more personnel on their payroll, have registered an increase of 11,000 jobs in June.
Joel Prakken, chairman of Macroeconomic Advisers, LLC, said that the findings will be reinforced if the Bureau of Labor Statistics releases similar results. Just recently, many economists and financial review corporations have issued negative forecasts and projections about the US economy for 2012. However, the ADP report may help to ease concerns about the economy on a verge of another dive. Prakken also added that the unfamiliar warm winter this year may have contributed to the employment of many Americans, which greatly impacted fiscally on the months of April and May.
Growth in other sectors may be small but significant, considering that many had experienced massive losses during the 2008 economic crisis. Carlos A. Rodriguez, president and chief executive officer of ADP, expressed elation on the growing economy despite fiscal difficulties in the previous months. “It is encouraging to see companies creating jobs, particularly in the goods-producing sector where we see positive growth following two months of job loss.”
“We hope this growth continues at even a healthier rate across all sectors of the economy,” Rodriguez added.
The ADP National Employment Report is an independent report sponsored by Automatic Data Processing, Inc. (ADP). It derives its figures from an unspecified subset of roughly 500,000 U.S. business clients, which pay salaries to an approximate total of over 21 million U.S. employees, all of which operate in the private industrial sector. The ADP National Employment Report employs the same statistical methodologies used by the Bureau of National Statistics. The ADP National Employment Report, its methodologies and approaches, were devised by Macroeconomic Advisers, LLC.