Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

ADP Employment Rebounds Off April Plunge But “Hot Job Market” Is Cooling

Courtesy of ZeroHedge. View original post here.

May's ADP Employment printed a lower than expected +178k.

This is the second lowest ADP print since October, thanks to a sharply revised lower April (from +204k to +163k).

The Goods-producing  sector of the economy added 64k jobs in May while the Service-producing segment aded 114k.

Under the covers, only Trade/Transportation saw job losses.

  

“The hot job market has cooled slightly as the labor market continues to tighten,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.

“Healthcare and professional services remain a model of consistency and continue to serve as the main drivers of growth in the services sector and the broader labor market as well.”

Mark Zandi, chief economist of Moody’s Analytics, said,

“Job growth is strong, but slowing, as businesses are unable to fill a record number of open positions. Wage growth is accelerating in response, most notably for young, new entrants and those changing jobs. Finding workers is increasingly becoming businesses number one problem.” 

Full Infographic below:

ADP National Employment Report: Private Sector Employment Increased by 178,000 Jobs in May

Finally, as a reminder, something odd has changed in the ADP vs BLS relationship since Trump was elected…

For years under Obama, ADP significantly underestimate the monthly gains in employment relative to the government. Since Trump's election ADP has systemically over-estimated?


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!