The non-farm private sector added 178,000 jobs in May, according to the ADP National Employment Report. This followed a downwardly revised 163,000 job increase in April.
Small businesses with fewer than 50 employees gained 38,000 jobs. Medium-sized businesses with 50-499 employees created 84,000, while large businesses added 56,000 jobs.
“The hot job market has cooled slightly as the labor market continues to tighten,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Healthcare and professional services remain a model of consistency and continue to serve as the main drivers of growth in the services sector and the broader labor market as well.”
Service-providing employment rose by 114,000 jobs, driven by the professional and business services sector, which added 61,000. The health services sector had a robust report, adding 35,000 jobs. Goods-producing employment grew by 64,000 jobs. The manufacturing industry gained 14,000, while the construction sector created 39,000 jobs.
Read the ADP report.