ADP Reports Private Sector Employment Gains in May Were Closer to Pre-Pandemic Levels
According to the March ADP® National Employment Report™ released today (6-2-22), nonfarm private sector employment increased by 128,000 jobs from April to May.
The ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally adjusted basis.
In a statement prepared for the release of the March report, Nela Richardson, ADP’s chief economist, said:
“Under a backdrop of a tight labor market and elevated inflation, monthly job gains are closer to pre-pandemic levels. The job growth rate of hiring has tempered across all industries, while small businesses remain a source of concern as they struggle to keep up with larger firms that have been booming as of late.”
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