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U.S job data
In June U.S. companies added more jobs than expected, showing further progress in the labor market recovery.
According to ADP Research Institute data released on Wednesday, the 692,000 gain in private payrolls followed a downwardly revised 886,000 increase in May.
In a Bloomberg News survey of economists, the median projection called for a 600,000 gain this month.
This will decrease economic uncertainty and a return to many pre-pandemic activities will drive additional employment gains.
According to ADP in June service-provider employment increased 624,000, with more than half the gain coming from a 332,000 advance in leisure and hospitality. another month of solid gains was posted by payrolls in the health-care industry, climbing 93,000 after May’s 106,000 increase.
During the month the payrolls at goods producers rose to 68,000, driven majorly by construction.
These figures come just before the government’s monthly jobs report on Friday.
In May the pending home sales jumped up
In May there was a strong rise in the contracts to purchase previously owned U.S. homes, which reached the highest level since May 2005.
On Wednesday, the National Association of Realtors said that its Pending Home Sales Index, rose 8 percent to 114.7 based on the contracts signed last month.
In the housing market industry pending home contracts are seen as a forward-looking indicator because they become sales one to two months later.
Pending sales were up 13.1 % compared to a year ago.
This year due to the shortage of houses on the market new and existing-home sales have fallen sharply.
A separate report on Tuesday showed in April the S&P Core Logic Case-Shiller composite index of 20 metropolitan areas increased 14.9 % on a year-on-year basis, which is the largest gain in more than 15 years.
Reference Source: Washington Post
