Private Businesses Create Just 179,000 Jobs in May, Says ADP
Economists surveyed by the Wall Street Journal expected that 210,000 would be the number of jobs added in the U.S. in May, but a new report by payroll processing firm, ADP shows that the actual number could be far less. The report, released Wednesday, estimates that U.S. payrolls increased by just 179,000 last month. Although both the estimates and ADP?s report are below April?s payroll increases, the number of jobs added is still seen as a signal of a stronger labor market. Small businesses hired 82,000 more employees which is more than either medium or large businesses. Additionally, the service sector grew by more than five times both the factory and the construction sectors combine.
See "Private Businesses Create Just 179,000 Jobs in May, Says ADP", Kathleen Madigan, The Wall Street Journal, June 3, 2014