May Employment Report Comes Out In-Line With Estimates

The ADP on Wednesday released its employment report for the the month of May. U.S. nonfarm private sector employment increased by 201,000 last month; Estimates called for 200,000. Private sector job growth had been dipping since January, but rebounded in May, up about 20 percent from April's 165,000. Especially striking was the job growth within small businesses, which ADP tallied at 122,000. Meanwhile, mid-sized businesses added a net of 65,000 employees and large businesses added 13,000. The industry that saw the most new workers was the service-providing sector, with 192,000 Americans finding jobs. Manufacturing was the only sector that decreased in employment, taking a net loss of 5,000 jobs.