American businesses added far fewer new jobs in May than expected, making the month the worst of the year so far, a new report shows. According to payroll giant ADP, U.S. businesses added just 152,000 new jobs in May.
The figure fell far short of the 175,000 new jobs economists had forecast for the month.
In a statement about the figures, ADP’s chief economist Nela Richardson said:“Job gains and pay growth are slowing going into the second half of the year.“The labor market is solid, but we’re monitoring notable pockets of weakness tied to both producers and consumers.”The bulk of new […]
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