US ADP surged 497k, but wages growth continues to ebb

<p>US ADP private employment grew 497k in June, well above expectation of 250k. By industry, goods-producing jobs increased 124k while service-providing jobs rose 373k. By establishment size, small companies added 299k jobs, medium companies added 183k, large companies cut -8k. Annual pay growth of job-stayers slowed from 6.6% yoy to 6.4% yoy. For job-changers, pay [&#8230;]</p>
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