US private payrolls rise by 150,000 in June, less than estimates

ISTANBUL

US private payrolls rose by 150,000 in June, less than market estimates, according to a report released Wednesday by a research institute.

The market expectation for the figure was to show an increase of 163,000 jobs.

The figure for May was revised up to a gain of 157,000, from an increase of 152,000, according to a report released by ADP Research Institute.

"Job growth has been solid, but not broad-based," Nela Richardson, the ADP chief economist, said in a statement. "Had it not been for a rebound in hiring in leisure and hospitality, June would have been a downbeat month."

Among businesses, small businesses added 5,000 jobs, while mid-sized and large enterprises experienced gains of approximately 88,000 and 58,000 jobs, respectively.

The leisure and hospitality sector posted the highest gain by adding 63,000 jobs, followed by the construction industry with an increase of 27,000.