U.S. Jobs Data Disappoints

by Christopher Freeburn | June 5, 2013 10:07 am

U.S. Jobs Data Disappoints

Jobs Newspaper U.S. Jobs Data Disappoints[1]The U.S. economy didn’t add nearly as many jobs[2] as economists had hoped last month.

On Wednesday, payroll firm ADP‘s (ADP[3]) National Employment Report, compiled in partnership with Moody’s Analytics, said that private employers hired just 135,000 new workers in May. Economists had forecast 165,000 new hires for the month, Reuters noted.

Adding to the gloom, ADP revised downward its estimate for April job creation from 119,000 to 113,000.

The service sector added 135,000 jobs last month, but goods-makers shed 3,000 workers.

On Friday, the Labor Department will release its non-farm jobs report for May. Last month, the government said that non-farm payrolls jumped by 165,000 in April, beating the 140,000 new hires anticipated by economists[4].

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/10/Jobs-Newspaper.jpg
  2. didn’t add nearly as many jobs: http://www.chicagotribune.com/business/sns-rt-us-usa-economy-employment-adpbre9540oy-20130605,0,3730820.story
  3. ADP: http://studio-5.financialcontent.com/investplace/quote?Symbol=ADP
  4. beating the 140,000 new hires anticipated by economists: http://investorplace.com/2013/05/april-jobs-report-winners-losers/

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