ABA Banking Journal
According to the ADP National Employment report, the private sector added 201,000 jobs in May, as both goods-producing and services sectors experienced increased job growth. The May report downwardly revised the April and March headline numbers by 4,000 and 13,000 jobs, respectively.
Small businesses, companies with fewer than 49 employees, added 122,000 jobs, up from 97,000 in April. Medium businesses, companies with 50 to 499 employees, added 65,000 jobs, the same as the previous month. Large businesses, companies with greater than 500 employees, added 13,000 jobs in May, as companies with 500-999 employees lost 3,000 jobs but companies with 1,000+ employees added 16,000 jobs.
Goods-producing employment rose by 9,000 jobs, an 8,000 job increase from the previous month. The construction industry added 27,000 jobs but the manufacturing sector lost 5,000 jobs.
The service-providing sector employment rose by 192,000 jobs, up from 164,000 in April. Professional/business services contributed the largest gain, adding 28,000 jobs in May, down from 35,000 jobs in April. Trade/transportation/utilities added 56,000 jobs and financial activities added 12,000 jobs.