New private sector jobs in the United States rose in May, but fell short of expectations, according to data released by the ADP Research Institute on Thursday.
In particular, U.S. companies added an additional 128,000 jobs last month, up from 299,000 new jobs forecast by economists in a Wall Street Journal poll.
The largest contributors to the creation of new jobs in the private sector were large US companies, which added 122,000 jobs, followed by medium-sized companies, with 50 to 499 employees, which created 97,000 new jobs. On the contrary, the contribution of small businesses was negative, which “lost” 91,000 jobs.
Of the new jobs, 104,000 were in services, 17,000 in leisure and hospitality, and 22,000 in manufacturing.
The ADP report is in collaboration with Moody’s Analytics and is published a few days before the US Department of Labor’s report on public and private employment. According to economists polled by the Wall Street Journal, government data released on Friday is expected to show that the US economy created a total of 328,000 jobs in May and that unemployment fell to 3.5% from 3.6%. previously.
Source: Capital
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