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Thursday, June 1, 2017

ADP: 253,000 Jobs Added in May

The non-farm private sector added 253,000 jobs in May, according to the ADP National Employment Report. April’s figure was revised down from 177,000 to 174,000. Professional and business services jobs accounted for over a third of May’s growth.
Growth was widespread in May with businesses of all sizes seeing strong increases. Small businesses with fewer than 50 employees added 83,000 jobs, while medium-sized businesses with 50-499 employees added 113,000. Large businesses added 57,000 jobs.

“May proved to be a very strong month for job growth,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Professional and business services had the strongest monthly increase since 2014. This may be an indicator of broader strength in the workforce since these services are relied on by many industries.”

Service-providing employment rose by 205,000 jobs, driven by the professional and business services sector which added 88,000. The education and health services sectors had a robust report, adding 54,000 jobs. The leisure and hospitality sectors, along with the information sector, were the only reported setbacks, losing 11,000 and 8,000 jobs, respectively. Goods-producing employment increased by 48,000 jobs. The construction industry led the gain, adding 37,000 jobs, while the manufacturing industry gained 8,000.

Read the ADP report.
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