US ADP Employment Rises 25,500 for May 30 as Weekly Hiring Slows From 29,000
Updated
Updated · en.bloomingbit.io · Jun 16
US ADP Employment Rises 25,500 for May 30 as Weekly Hiring Slows From 29,000
3 articles · Updated · en.bloomingbit.io · Jun 16
Summary
25,500 jobs were added in ADP's weekly U.S. private-sector measure for May 30, down from 29,000 the previous week and signaling slower hiring momentum.
The ADP gauge is closely watched for signs the labor market is cooling, and this softer reading may reinforce concerns about a broader economic slowdown.
Federal Reserve officials and markets are parsing employment and inflation data ahead of this week's FOMC meeting, where weaker hiring could ease pressure for further rate increases.
ADP's broader four-week average also showed job growth slowing for a fourth straight week, underscoring a gradual loss of labor-market momentum.