US May ADP private payrolls up 97,000, suggests total payrolls up 121,000

BY

The US economy added 97,000 private sector jobs in May, payroll services firm ADP said today, lower than the 115,000 expected increase in private sector jobs.

The ADP report does not include government jobs. After adding in
the roughly 24,000 government jobs created in a typical month, the ADP report suggests total non-farm payrolls grew by about
121,000 in May.

The Labor Department releases its official figures on Friday, and economists polled by Thomson s IFR Markets expect total non-farm
payroll jobs to have risen about 138,000 this month.

May private payroll growth continued its long-running pattern with an increase of 120,000 service sector jobs and a decline of 23,000 goods-producing jobs. It was the sixth consecutive decline in goods-producing sectors and included 10,000 job losses in manufacturing.

ADP also revised down its March-to-April payroll growth to 61,000 from the initially reported 64,000.

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