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The Economic Times
The Economic Times

US private sector hiring beats expectations in May: ADP

Employment in the US private sector grew more than expected in May, payroll firm ADP said Wednesday, with hiring seen across a range of industries.

Job growth came in at 122,000 last month, up from a revised 105,000 figure in April, ADP said.

This was above the 110,000 jobs forecast by economists surveyed by Dow Jones Newswires and The Wall Street Journal.

The numbers are closely watched ahead of the government's employment report due Friday, with officials monitoring for weakness in the labor market, although the numbers may diverge.

"Hiring was more broad-based in May than we've seen in the last few years," said ADP chief economist Nela Richardson in a statement.

The report showed that employers of all sizes were hiring, with gains seen across industries like education and health services, alongside trade, transportation and utilities.

"The labor market continues to show sustained momentum going into the summer hiring season," Richardson said.

For workers who remained in their jobs, pay growth was 4.4 percent in May.

For those who changed jobs, salary growth slowed slightly to 6.5 percent, from 6.6 percent in April.

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