Economic Indicators

US private payrolls rise less than expected in May – ADP

2024.06.05 09:06

(Reuters) – U.S. private payrolls increased less than expected in May while data for the prior month was revised lower, a report showed on Wednesday.

Private payrolls increased by 152,000 jobs last month after rising by a downwardly revised 188,000 in April, the ADP Employment report showed. Economists polled by Reuters had forecast private employment increasing by 175,000 last month.

The report was the latest indication that employment is not buckling under the weight of 525 basis points of interest rate increases from the Federal Reserve since March 2022, although other data has shown the job market is coming into better balance.

On Tuesday, the Labor Department reported job openings fell in April to the fewest in more than three years and the ratio of vacancies to the number of unemployed persons had returned to levels seen prior to the COVID-19 pandemic outbreak in early 2020.

© Reuters. Hundreds of people line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort, Kentucky, U.S. June 18, 2020. REUTERS/Bryan Woolston

The ADP report, jointly developed with the Stanford Digital Economy Lab, also precedes Friday’s more comprehensive and closely watched nonfarm payrolls report for May from the Bureau of Labor Statistics.

Economists polled by Reuters expect the BLS data to show 170,000 private-sector jobs were created last month, little changed from April’s 167,000, while total payroll growth is estimated at 185,000 versus 175,000 in April. The unemployment rate is forecast unchanged at 3.9% and annual wage increases holding steady at 3.9%.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 104,791.08 0.71%
ethereum
Ethereum (ETH) $ 3,311.21 0.91%
xrp
XRP (XRP) $ 3.10 0.49%
tether
Tether (USDT) $ 1.00 0.02%
solana
Solana (SOL) $ 253.38 0.45%
bnb
BNB (BNB) $ 680.13 1.53%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.35057 0.62%
cardano
Cardano (ADA) $ 0.97114 1.83%
staked-ether
Lido Staked Ether (STETH) $ 3,306.78 0.86%
tron
TRON (TRX) $ 0.254332 0.32%
chainlink
Chainlink (LINK) $ 25.18 2.11%
avalanche-2
Avalanche (AVAX) $ 35.29 1.08%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,946.70 0.32%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 104,246.93 0.45%
stellar
Stellar (XLM) $ 0.430427 0.46%
the-open-network
Toncoin (TON) $ 5.06 1.21%
sui
Sui (SUI) $ 4.19 3.04%
hedera-hashgraph
Hedera (HBAR) $ 0.32683 0.51%
shiba-inu
Shiba Inu (SHIB) $ 0.00002 1.14%
weth
WETH (WETH) $ 3,306.96 0.85%
polkadot
Polkadot (DOT) $ 6.31 0.91%
leo-token
LEO Token (LEO) $ 9.71 0.32%
litecoin
Litecoin (LTC) $ 118.88 2.06%
bitget-token
Bitget Token (BGB) $ 7.41 2.75%
bitcoin-cash
Bitcoin Cash (BCH) $ 432.51 1.13%
hyperliquid
Hyperliquid (HYPE) $ 23.02 4.61%
uniswap
Uniswap (UNI) $ 12.45 3.14%
usds
USDS (USDS) $ 1.00 0.04%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,504.03 0.31%
pepe
Pepe (PEPE) $ 0.000015 2.88%
official-trump
Official Trump (TRUMP) $ 29.85 14.24%
near
NEAR Protocol (NEAR) $ 4.98 0.24%
ethena-usde
Ethena USDe (USDE) $ 0.999926 0.04%
aave
Aave (AAVE) $ 334.71 1.25%
aptos
Aptos (APT) $ 8.19 2.02%
ondo-finance
Ondo (ONDO) $ 1.40 3.59%
internet-computer
Internet Computer (ICP) $ 9.04 2.08%
ethereum-classic
Ethereum Classic (ETC) $ 27.38 5.89%
whitebit
WhiteBIT Coin (WBT) $ 28.51 1.26%
monero
Monero (XMR) $ 220.22 0.42%
mantle
Mantle (MNT) $ 1.18 4.39%
vechain
VeChain (VET) $ 0.047541 3.14%
crypto-com-chain
Cronos (CRO) $ 0.13795 1.39%
jupiter-exchange-solana
Jupiter (JUP) $ 0.844141 4.86%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.432198 2.33%
dai
Dai (DAI) $ 1.00 0.00%
render-token
Render (RENDER) $ 6.87 2.71%
mantra-dao
MANTRA (OM) $ 3.50 4.88%
kaspa
Kaspa (KAS) $ 0.131682 0.65%