Private sector job growth cools in May to 152,000, worse than expected: ADPJune 05, 2024 at 08:21 AM EDT
Hiring by private U.S. companies rose less than forecast in May, a sign that the labor market is starting to slow in the face of higher interest rates.
Hiring by U.S. companies slowed more than expected in May, pointing to a labor market that is continuing to cool in the face of higher interest rates, according to the ADP National Employment Report released Wednesday morning. Companies added 152,000 jobs last month, missing the 175,000 increase predicted by LSEG economists. This is a developing story. Please check back for updates. 
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