Companies in June continued to bring workers back from their pandemic furlough as the national economy slowly came back to life.
Private payrolls grew by 2.369 million for the month, a bit lower than the 2.5 million expectation from economists surveyed by Dow Jones, according to a report Wednesday from ADP and Moody’s Analytics.
The total actually represented a decline from the previous month, which saw a dramatic upward revision to 3.065 million. ADP initially said May saw a loss of 2.76 million. However, the Labor Department two days later reported a gain of 2.5 million for May, a number that itself was far better than the Wall Street estimate of an 8 million loss.