wingedwolf/iStock(ROSELAND, N.J.) — The number of jobs added by private employers in the U.S. grew minimally from April to May, the latest employment report from ADP shows.
According to the joint survey released by the payroll processor and Moody’s Analytics on Wednesday, only 27,000 jobs were added last month. That’s a sharp decrease from the 263,000 jobs the Labor Department reported were added in April.
“Following an overly strong April, May marked the smallest gain since the expansion began,” Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said in a press release.
Mark Zandi, chief economist of Moody’s Analytics, added: “Job growth is moderating. Labor shortages are impeding job growth, particularly at small companies, and layoffs at brick-and-mortar retailers are hurting.”
On Friday, Americans will get a better picture of the jobs market when the Labor Department releases its monthly jobs report for May.
The unemployment rate currently stands at 3.6 percent — a 50-year low.
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