Reply #29: Private sector employment up 38K in May, well below expectations

[Pale Blue Dot]

ROSELAND, N.J. -- Companies in the US private sector added only 38,000 jobs in May, according to ADP's employment report released Wednesday.

The reading was a shock to analysts, who had expected a gain near 175,000 jobs.

According to ADP, the goods-producing sector lost 10,000 jobs in May following six months of gains, while manufacturing employment fell 9,000 after seven consecutive monthly increases.

The service sector added 48,000 jobs, ADP stated.

Read more: http://www.nypost.com/p/news/business/private_sector_employment_up_in_24YaqfGRHE3SyQnu9TAHnO#ixzz1O1wXXYyh


The ADP report, FWIW.