ADP: Private Employment Increased 152,000 in May

by Calculated Risk on 6/05/2024 08:15:00 AM

From ADP: ADP National Employment Report: Private Sector Employment Increased by
152,000 Jobs in May; Annual Pay was Up 5.0%

Private sector employment increased by 152,000 jobs in May and annual pay was up 5.0 percent year-over-year, according to the May, according to the April ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”). …

“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.”

emphasis added

This was below the consensus forecast of 174,000. The BLS report will be released Friday, and the consensus is for 180,000 non-farm payroll jobs added in May.

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