U.S. Manufacturing Expands Fastest Since 2022 as Private Employers Add 109,000 Jobs
Updated
Updated · Washington Times · May 29
U.S. Manufacturing Expands Fastest Since 2022 as Private Employers Add 109,000 Jobs
3 articles · Updated · Washington Times · May 29
U.S. manufacturing has expanded for four straight months and is now growing at its fastest pace since 2022, while ADP said private employers added 109,000 jobs this month after about 70,000 the prior month.
New orders for key U.S.-made capital goods rose by the most in nearly six years, with solid shipment gains pointing to stronger business equipment spending in the first quarter.
Pay growth also stayed ahead of inflation: ADP put raises for job stayers at 4.4% and job changers at 6.6%, while Paychex reported a second consecutive monthly gain in small-business hiring.
The report argues recent inflation pressure is largely energy-driven and temporary, noting oil has retreated to about $90 a barrel from a war-time peak of $112 and GDP is tracking near 2% growth this quarter.
If GDP is growing and jobs are being added, why did nearly half of American workers receive no pay raise last quarter?
Is the AI spending boom fueling genuine innovation, or are we witnessing the inflation of another dot-com-style market bubble?
With personal wealth at a record high, why are real incomes falling and the national savings rate near a 30-year low?