ADP: US Employers Add Nearly 1 Million Jobs in May, Jobless Claims Fall Below 400,000

Source: US News & World Report

“Private-sector payroll firm ADP reported that employers added 978.000 jobs in May, following April’s gain of 742,000, while the number of Americans filling first-time unemployment claims last week fell below 400,000. The job gains were dominated by the services sector, which added 850,000 positions, with increases occurring evenly among businesses of all sizes. The leisure and hospitality sectors led the increase, with 440,000 new jobs, while trade, transportation and utilities posted gains of 118,000 and education and health increased by 139,000. The strong report could be a harbinger of what the Labor Department reports on Friday with the May nonfarm payrolls reading, after April’s disappointing addition of only 266,000 jobs, well below the million forecast.” (06/03/21)