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Hiring at US Companies Exceeds Expectations, ADP Data Shows

U.S. private payrolls in May exceeded all economists’ forecasts in a Bloomberg survey, according to the ADP, underscoring a resilient labor market that underpins the economy.

Key Point
  • U.S. Private Employment Increases by 278,000
    • The median forecast of economists surveyed by Bloomberg forecast an increase of 170,000 jobs.
    • The previous month was revised downward to an increase of 291,000 (preliminary increase of 296,000).

The data was jointly calculated by the ADP Research Institute and the Stanford Digital Economy Lab.

Employment growth was led by entertainment and hospitality, with increases in mining, construction, trade and transportation.

See table for detailed statistics.

Original title:Hiring at US Companies Tops All Forecasts, ADP Data Show(excerpt)

(Add and update stats details)

2023-06-01 12:21:49
#U.S #ADP #Private #Employment #Hits #Exceeds #Expectations

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