Bureau of Labor Statistics will release its report Friday
By Frederick H. Lowe
The nation’s non-farm businesses added 201,000 jobs in May, up from 185 in April, the ADP National Employment Report announced Wednesday.
Roseland, N.J.-based ADP reported small businesses, employing 1 to 49 workers added 122,000 employees. Medium-size businesses, employing 50 to 499 workers, added 65,000 new workers, and large businesses, employing 500 to more than 1,000 employees added 13,000 new workers.
Goods-producing industries added 9,000 new jobs after adding 1,000 in April. Service-providing industries added 192,000 jobs, up from 164,000 in April.
ADP releases jobs figures two days before the U.S. Bureau of Labor Statistics releases its closely watched jobs report the first Friday of the month.
“The job market posted a solid gain in May,” said Mark Zandi, chief economist for Moody’s Analytics. “Employment growth remains near the average of the past couple of years. At the current pace of job growth, the economy will be back to full employment by this time next year. The only blemishes are the decline in mining jobs due to the collapse in oil prices and decline in manufacturing due to the strong dollar.”
Construction added 27,000 jobs; manufacturing lost 5,000 jobs, trade/transportation/utilities added 56,000 jobs, financial activities added 12,000 jobs and professional business services added 28,000 jobs.