Job creation slowed in May in the US private sector
June 5, 2024
ADP reported Wednesday that private sector job creation slowed more than expected in May, signaling further weakness in the labor market. According to the payroll firm, companies added 152,000 jobs, down from a downwardly revised 188,000 in April and below the Dow Jones consensus estimate of 175,000. This is the lowest monthly level since February. That said, annual wage growth remained at 5%, a level it has held for three months.
