Tags: adp | Private | Sector | Jobs

Report: Private Sector Adds Fewer Jobs Than Expected

Thursday, 03 June 2010 08:31 AM

Private employers added 55,000 jobs in May, compared with an upwardly revised gain of 65,000 in April, a report by a payrolls processor showed on Thursday.

The April figure was originally reported as a gain of 32,000.

The median of estimates from 31 economists surveyed by Reuters for the ADP Employer Services report, jointly developed with Macroeconomic Advisers LLC, was for a rise of 60,000 private-sector jobs in May.

The ADP figures come ahead of the government's much more comprehensive labor market report on Friday, which is expected to show a huge rise in nonfarm payrolls of 513,000 in May, based on a Reuters poll of analysts.

Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it is not always accurate in predicting the outcome.

© 2021 Thomson/Reuters. All rights reserved.


Economy
Private employers added 55,000 jobs in May, compared with an upwardly revised gain of 65,000 in April, a report by a payrolls processor showed on Thursday. The April figure was originally reported as a gain of 32,000. The median of estimates from 31 economists surveyed by...
adp,Private,Sector,Jobs
132
2010-31-03
Thursday, 03 June 2010 08:31 AM
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