Analysts See U.S. May Payroll Growth Slowing to 85,000 as ADP Private Hiring Tops 90,000
Updated
Updated · continuumeconomics.com · Jun 2
Analysts See U.S. May Payroll Growth Slowing to 85,000 as ADP Private Hiring Tops 90,000
3 articles · Updated · continuumeconomics.com · Jun 2
85,000 jobs are the forecast for May non-farm payrolls, down from 115,000 in April, while private payroll growth is seen easing to 90,000 from 123,000.
ADP could modestly outperform the official private-payroll count after lagging in April, with weekly ADP readings and low initial claims still pointing to a firm labor market.
17,000 Spirit Airlines redundancies may weigh on the government payrolls figure but may not be fully captured in ADP data, creating a gap between the two reports.
Goods employment is expected to improve, but services are seen losing momentum, especially consumer-sensitive sectors exposed to higher energy prices.