U.S. Private Payrolls Rise More than Expected

U.S. private payrolls rose more than expected during June, with businesses filling more vacancies to increase production amid demand recovery with the economy reopening, data showed on Wednesday.

Private payrolls increased by 692,000 jobs this month, compared with May’s reading of 886,000, which was revised downwards from an initially estimated 978,000.

The increase exceeded market expectations of a 600,000-job rise, according to a recent Reuters poll.

The leisure and hospitality industry showed an increase in payrolls by 332,000 jobs, factories added 19,000 jobs, while jobs in construction increased by 47,000.