Tabs

Wednesday, June 4, 2014

ADP Employment Adds 179,000 Jobs in May

According to the ADP’s National Employment Report, the private sector added 179,000 jobs in May, below expectations. Moreover, May’s report included downward revisions to the previous two months, decreasing the headline number by a combined 16,000 jobs. The lower ADP headline number may have downward impacts the job growth data released by the U.S. government on Friday.



Job gains continue to be centered in the service sector, which added 160,000 jobs in May, down from 194,000 in April. Professional and business services added far fewer jobs in May than the previous 3 months. The sector improved by 46,000 jobs in May, compared to an average of 57,000 jobs added each of the prior three months.

Goods producing employment rose from April, with 29,000 new goods producing jobs in May. Manufacturing added 10,000 jobs, the strongest growth all year.

Read the ADP release.

No comments:

Post a Comment

Please read our comment policy before making a comment.