Employers Add Jobs in May, ADP Report Says

Roseland, NJ, June 4, 2008--Private employers unexpectedly added 40,000 jobs in May, according to a  report on Wednesday by ADP Employer Services.

The ADP data release comes ahead of the government's monthly jobs report due on Friday, one of the biggest events on the monthly economic calendar.

Economists' median expectation for the May ADP jobs figure was for a drop of 30,000 jobs.

"ADP has been inaccurate of late, overpredicting payrolls," said Cary Leahey, economist and managing director at Decision Economics in New York.