Economist: U.S. May ADP private sector employment is expected to be similar to April's data

Golden Finance reports that Continuum Economics senior economist Dave Sloan predicts that U.S. private sector employment in May will increase by about 100k jobs, roughly matching the 109k new jobs added in April. The increase in April was the strongest since January 2025. However, he pointed out that this estimate still falls short of the growth momentum implied by the weekly ADP employment report for the week ending May 9. Based on an average of 37.75k new jobs per week over the past four weeks, the corresponding monthly increase should be more robust. He added that it is worth noting that the trend of the weekly ADP employment data released in early April is quite similar to the data performance in early May, so from historical experience, the ADP employment growth in May may still be expected to remain at a level close to April. (Jin10)
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