ADP Private Payrolls Report Shows Just 38K Jobs Added in May
June 1, 2011
Headline Alert
Economic Update: ADP Employment
ADP reported that the private sector job market expanded again during the month of May, albeit at a much slower pace than had been anticipated.
The report shows that private sector jobs rose by 38K during the month, which was well below the consensus expectations for a gain of about 179K.
In addition, April’s report was revised to 177K from 179K. For comparison: March: +201K, February: +217K, January: +189K, December: +247K.
As a reminder, the ADP report does not include jobs in the government sector.
Also remember that the all-important Nonfarm Payrolls report is due out Friday morning.
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