The US private sector added more jobs than expected

The ADP national employment report released today showed that the US private sector added 978 thousand jobs in May after adding 654 thousand jobs in April after a downward revision, the largest increase since June of last year. Analysts had expected that the US private sector would add 650 thousand jobs in May, and the US economy is expected to add 650 thousand jobs in May after the economy added 266,000 jobs in April.

The global recruitment firm Challenger Gray & Christmas report showed that layoffs fell by 93.8% in May compared to the same period last year, and employers announced 192,185 jobs this year, a decrease of 86% compared to the same period in 2020.