US private employers added 122,000 jobs in May, payroll processor ADP said Wednesday, exceeding expectations and growing over April’s gain.
Economists surveyed by Bloomberg had expected an increase of 120,000 roles after April’s revised count of 105,000 positions added. The report, one of several major labor market datasets due this week, is likely to support the sentiment that the labor market is stabilizing and moving in a positive direction.
The education and health services sector, and the trade, transportation, and utilities sector saw the largest gains, adding 57,000 positions and 36,000 positions, respectively. Out of the industries ADP tracks, only information, natural resources, and mining lost jobs.
“Hiring was more broad-based in May than we’ve seen in the last few years,” ADP chief economist Nela Richardson said in a statement. “The labor market continues to show sustained momentum going into the summer hiring season.
