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ADP: Private payrolls grew by 37,000 in May; lowest rate since 2023
Private payroll company ADP Wednesday reported May private sector jobs growth of just 37,000 - the lowest in over two years.
Private sector added just 37,000 jobs in May, lowest in over 2 years, ADP says
The figure reported on Wednesday is well below economists’ estimates of 110,000 jobs and also down from the prior month’s revised reading of 60,000 jobs.
Private sector hiring rose by just 37,000 in May, the lowest in more than two years, ADP says
The report comes two days before the more closely watched nonfarm payrolls count from the Bureau of Labor Statistics.