US private sector adds nearly half a million jobs in June

U.S. companies saw a massive, unexpected spike in hiring activity in June, according to private payroll processor ADP’s latest employment report, released Thursday morning. ADP’s National Employment Report, produced in a collaboration with the Stanford Digital Economy Lab, showed that the private sector added 497,000 jobs last month, far exceeding economists’ expectations for 228,000 jobs and ADP’s May total of 267,000 hires.