US Private Sector Jobs Growth Slows to Two-Year Low in May
TL;DR
In May, the US private sector created only 37,000 jobs, the lowest in over two years, due to ongoing global trade wars causing hiring hesitancy among businesses, especially in manufacturing, though the service sector remained resilient. The report suggests a slowdown in employment growth, with the government expected to report a modest 125,000 new jobs, and market reactions were mixed as investors reacted to the uncertain economic outlook.
Topics:top-newseconomy-and-politics#adp-report#economy-and-politics#job-creation#private-sector-jobs#trade-wars#us-economy
- Trade wars dent hiring: ADP says businesses created paltry 37,000 private-sector jobs MarketWatch
- Private sector hiring rose by just 37,000 in May, the lowest in more than two years, ADP says CNBC
- ADP National Employment Report: Private Sector Employment Increased by 37,000 Jobs in May; Annual Pay was Up 4.5% PR Newswire
- US Hiring Cools to Slowest Pace in Two Years, ADP Data Show Bloomberg
- Wednesday's Economic Calendar MSN
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