ADP Says U.S. Added 2.37 Million Jobs in June

The transcript discusses job estimates for June, highlighting 2.4 million jobs created, with a breakdown by business size and sector. It addresses the impact of COVID-19 spikes on employment, particularly in leisure and hospitality. The ADP's job number revisions are explained, noting a significant change from negative to positive figures, and the potential implications for economic forecasts.

How many jobs were created in small businesses during June?

• 937,000

• 559,000

• 1,900,000

• 873,000

Which sector saw the largest increase in jobs?

• Goods-producing

• Manufacturing

• Leisure and hospitality

• Service-producing

What is a major concern regarding the jobs added in leisure and hospitality?

• Lack of skilled workers

• COVID-19 related closures

• High employee turnover

• Increased automation

What was the nature of the revision made by ADP to the job numbers?

• A seasonal adjustment

• A significant correction

• A minor adjustment

• An error in calculation

What impact might the revised job numbers have on economic forecasts?

• Boost in economic confidence

• Reduction in government spending

• Decrease in consumer spending

• Increase in unemployment rates