US adds just 128,000 private-sector jobs as growth nears pre-pandemic levels: ADP


The US added 128,000 private-sector jobs in May on a seasonally adjusted basis, down from the 202,000 added in April, according to the ADP National Employment Report released today. The US had added an average of 338,000 private-sector jobs per month this year.

“Under a backdrop of a tight labor market and elevated inflation, monthly job gains are closer to pre-pandemic levels,” said Nela Richardson, chief economist, ADP.

Prior to the impact of the pandemic in February 2020, the US added 72,000 private-sector jobs.

“The job growth rate of hiring has tempered across all industries,” Richardson said, “while small businesses remain a source of concern as they struggle to keep up with larger firms that have been booming as of late.”

Small businesses shed 91,000 jobs in May. In comparison, midsize businesses added 97,000 jobs in May, while large businesses added 122,000.

By sector, jobs fell in both construction and information. Here are the jobs lost/added in May by sector:

  • Goods-producing, up 24,000
    • Natural resources/mining, up 5,000
    • Construction, down 2,000
    • Manufacturing, up 22,000
  • Service-providing, up 104,000
    • Trade/transportation/utilities, up 8,000
    • Information, down 2,000
    • Financial activities, up 10,000
    • Professional/business services, up 23,000
      • Professional/technical services, up 19,000
      • Management of companies/enterprises, up 1,000
      • Administrative/support services, up 4,000
    • Education/health services, up 46,000
      • Healthcare/social assistance, up 41,000
      • Education, up 5,000
    • Leisure/hospitality, up 17,000
    • Other services, up 2,000

The US Bureau of Labor Statistics is slated to publish its report on May jobs data on Friday.