Private Sector Creates 179K Jobs in May
Roseland, NJ, June 4, 2014 -- Private sector employment increased by 179,000 jobs in May, according to the May ADP National Employment Report.
That was less than expected by economists.
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According to the report, small businesses led the way with 82,000 new jobs.
Goods producing jobs rose by 29,000 jobs in May, up from 21,000 jobs gained in April. The construction industry added 14,000 jobs over the month, down slightly from 16,000 in April.
Mark Zandi, chief economist of Moody's Analytics, said, "Job growth moderated in May. The slowing in growth was concentrated in Professional/Business Services and companies with 50-999 employees. The job market has yet to break out from the pace of growth that has prevailed over the last three years."