Job Growth Stalls
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The ADP National Employment Report Wednesday showed private sector job growth in the U.S. hit a brick wall in May as companies continue to put off major hiring.
The ADP report showed private sector employment rose just 38,000 last month, well below the 175,000 economists had predicted.
"Although we continue to see jobs being added to the economy, this month's job figures show that employers believe we are not out of the woods yet when it comes to decisions on hiring," said Gary Butler, President and CEO of ADP.
The report showed small businesses added 27,000 jobs, medium businesses added 30,000 jobs and large businesses cut 19,000 jobs.
The goods-producing sector lost 10,000 jobs, while the service sector added 48,000.
The ADP report showed private sector employment rose just 38,000 last month, well below the 175,000 economists had predicted.
"Although we continue to see jobs being added to the economy, this month's job figures show that employers believe we are not out of the woods yet when it comes to decisions on hiring," said Gary Butler, President and CEO of ADP.
The report showed small businesses added 27,000 jobs, medium businesses added 30,000 jobs and large businesses cut 19,000 jobs.
The goods-producing sector lost 10,000 jobs, while the service sector added 48,000.
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