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ADP: 128,000 tasks acquired in May

The non-farm economic sector acquired 128,000 tasks in May, according to the ADP National Employment Report. This follows a modified April boost of 202,000 tasks.

Small companies with less than 50 workers lost 91,000 tasks. Medium-sized companies with 50-499 workers acquired 97,000, while big companies increased by 122,000 tasks.

“Under a backdrop of a tight labor market and elevated inflation, monthly job gains are closer to prepandemic levels,” stated Nela Richardson, primary economic expert, ADP. “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.”

Service-offering work acquired 104,000 tasks, driven by gains in the education/health services and professional/business services sectors, which grew by 46,000 and 23,000 tasks respectively.

Goods-producing work acquired 24,000 tasks in May. The making sector acquired 22,000 tasks and building and construction lost 2,000 tasks. Natural resources/mining likewise acquired 5,000 tasks.

Read the ADP report.

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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