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3 Jun 2015
US ADP says private sector added 201K jobs in May
FXStreet (Mumbai) - The data released by the Automatic Data Processing, Inc, (ADP) showed the US labor market is rebounding after a slump in March and April, thereby supporting the Fed’s view that the job growth could remain robust despite economic slowdown in the first quarter.
The ADP report showed private sector in the US added 201,000 jobs in May. Economists had called for the report to show private employers added 200,000 jobs in May, compared to the downwardly revised 165,000 additions (previously reported at 169K) seen in April.
Small sized firms (1-49 employees) added 122KK jobs, Mid-sized firms (50-499 employees) added 65K jobs, and Large sized firms (500+ employees) added 13K jobs. Sector wise details reveal 192K jobs were added by the service industry, while the goods-producing sector added 9K jobs in May.
The ADP report showed private sector in the US added 201,000 jobs in May. Economists had called for the report to show private employers added 200,000 jobs in May, compared to the downwardly revised 165,000 additions (previously reported at 169K) seen in April.
Small sized firms (1-49 employees) added 122KK jobs, Mid-sized firms (50-499 employees) added 65K jobs, and Large sized firms (500+ employees) added 13K jobs. Sector wise details reveal 192K jobs were added by the service industry, while the goods-producing sector added 9K jobs in May.