Financial News: U.S. Private Sector Job Growth Modestly Exceeds Estimates

U.S. Private Sector Job Growth Modestly Exceeds Estimates In May

06/03/2026 - 10:26:00 (RTTNews)

(RTTNews) - A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. jumped by slightly more than expected in the month of May.

ADP said private employment shot up by 122,000 jobs in May after increasing by a downwardly revised 105,000 jobs in April.

Economists had expected private sector employment to surge by 117,000 jobs compared to the addition of 109,000 jobs originally reported for the previous month.

"Hiring was more broad-based in May than we've seen in the last few years," said ADP Chief Economist Dr. Nela Richardson. "The labor market continues to show sustained momentum going into the summer hiring season."

ADP said eight out of ten supersectors saw job growth last month, with notable increases seen in the education and health services and trade, transportation and utilities sectors.

The report also said small businesses added 49,000 jobs, large businesses added 40,000 jobs and mid-sized businesses added 10,000 jobs.

On Friday, the Labor Department is scheduled to release its more closely watched monthly employment report, which includes both public and private sector jobs.

Economists currently expect employment to increase by 85,000 jobs in May after jumping by 115,000 jobs in April, while the unemployment rate is expected to hold at 4.3 percent.

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