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Unexpectedly Private Sector Job Growth Slumps in May
Private-sector payroll growth slowed sharply in May, coming in far below expectations and falling to the lowest level in eight months, a report by a payrolls processor showed on Wednesday.The ADP Employer Services report showed private employers added a scant 38,000 jobs last month, while April private payrolls were revised down to an increase of 177,000 from the previously reported 179,000. Economists surveyed by Reuters had forecast a gain of 175,000 jobs for May. Posted by: Beavis 2011-06-01 |
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