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- U.S. private employers add 27,000 jobs in May - ADP
U.S. private employers add 27,000 jobs in May - ADP
The employment
report prepared by Automatic Data Processing Inc. (ADP) and Moody's Analytics
showed on Wednesday the U.S. private employers added 27,000 jobs in May. That
was the smallest monthly jobs gain since March 2010.
Economists had
expected a gain of 180,000.
The increase
for April was revised down to 271,000 from the originally reported 275,000.
“Following an
overly strong April, May marked the smallest gain since the expansion began,”
said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.
“Large companies continue to remain strong as they are better equipped to
compete for labor in a tight labor market.”
Meanwhile, Mark
Zandi, chief economist of Moody’s Analytics, noted, “Job growth is moderating.
Labor shortages are impeding job growth, particularly at small companies, and
layoffs at brick-and-mortar retailers are hurting.”
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