The non-farm private sector added 122,000 jobs in May, and annual pay was up 4.4% year-over-year, according to the ADP National Employment Report. This follows a downward revision of April’s report from 109,000 to 105,000.
Small businesses with fewer than 50 added 67,000 jobs. Medium-sized businesses with 50–499 employees added 17,000 jobs, while large businesses gained 40,000 jobs.
“Hiring was more broad-based in May than we’ve seen in the last few years.” The labor market continues to show sustained momentum going into the summer hiring season,” said Dr. Nela Richardson, chief economist, ADP.
Service-providing employment added 114,000 jobs, driven by education/health services gaining 57,000 jobs, followed by trade/transportation/utilities gaining 36,000. However, information services lost 9,000,
Goods-producing employment gained 8,000 jobs. Natural resources/mining lost 3,000 while construction and manufacturing added 8,000 jobs and 3,000 jobs respectively.
Read the ADP report.
