Employment in the private sector grew by 152,000 jobs in May, according to the latest ADP National Employment Report, after the reported addition of 192,000 jobs in April.
Trade/transportation/utilities (+55,000), education/health services (+46,000), and construction (+32,000) had the most job growth last month, while manufacturing experienced a notable loss of 20,000 jobs.
For another month, the most significant job gains were in the South region (+101,000), as jobs in the West decreased by 10,000. Larger establishments (500+ employees) saw the highest growth in May with the addition of 98,000 jobs. Small businesses (1-49 employees), however, lost 10,000 jobs.
Annual pay growth continued to slow over the month for job-changers, falling from 9.3% in April to 7.8% in May, but growth for job-stayers remained unchanged at 5.0%.
“Job gains and pay growth are slowing going into the second half of the year,” said Nela Richardson, ADP’s chief economist. “The labor market is solid, but we’re monitoring notable pockets of weakness tied to both producers and consumers.”
