Leisure and Hospitality Industries Propel US Job Growth in June

Checking into a hotel. (photo via monkeybusinessimages/iStock/Getty Images Plus)

The leisure and hospitality industry led the way for U.S. job growth in the month of June with a whopping 232,000 new hires, according to the latest data from payroll processing firm ADP.

The figure is appropriate given the surge in travel demand experienced in recent months and on the heels of the TSA recording its busiest day in the agency's history.

In total, private sector jobs surged by 497,000 for the month, significantly more than the 267,000 gain seen in May and far better than the 220,000 Dow Jones consensus estimate.

The increase signals the largest monthly rise since July 2022. The report also found that annual pay rose at a 6.4 percent rate.

"Consumer-facing service industries had a strong June, aligning to push job creation higher than expected," Nela Richardson, chief economist at ADP, said in a statement. "But wage growth continues to ebb in these same industries, and hiring likely is cresting after a late-cycle surge."

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