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Financial News: U.S. Private Sector Employment Increases Much Less Than

U.S. Private Sector Employment Increases Much Less Than Expected In May

06/02/2022 - 08:19:00 (RTTNews)

(RTTNews) - A day ahead of the release of the Labor Department's more closely watched monthly jobs report, payroll processor ADP released a report on Thursday showing private sector employment increased by much less than expected in the month of May.

ADP said private sector employment climbed by 128,000 jobs in May after jumping by a downwardly revised 202,000 jobs in April.

Economists had expected private sector employment to surge by 300,000 jobs compared to the addition of 247,000 jobs originally reported for the previous month.

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