The non-farm private sector gained 152,000 jobs in May, according to the ADP National Employment Report. This follows a downward revision to 188,000 jobs in March.
Small businesses with fewer than 50 employees lost 10,000 jobs. Medium-sized businesses with 50-499 employees, gained 79,000 while large businesses gained 98,000.
“Job gains and pay growth are slowing going into the second half of the year,” said Nela Richardson, chief economist, ADP. “The labor market is solid, but we’re monitoring notable pockets of weakness tied to both producers and consumers.”
Service-providing employment gained 149,000 jobs driven by gains in trade/transportation/utilities and education/health services which grew by 55,000 and 46,000, respectively.
Goods producing-employment gained 3,000 jobs in May. Construction gained 32,000 jobs while manufacturing lost 20,000 jobs.
Read the ADP report.
