Following ashockingly strong JOLTS report, ADP just reported a stronger than expected rise in jobs added in May.
ADP says 122k jobs were added in May - better than the 120k expected - and thebiggest monthly addition since January 2025
"Hiring was more broad-based in May than we've seen in the last few years,"said Dr. Nela Richardson, Chief Economist, ADP.
"The labor market continues to show sustained momentum going into the summer hiring season."
Small businesses added the most jobs...
The Trade & Transportation industry added the most jobs while Information services suffered the biggest losses (AI?)...
Year-over-year pay growth for job-stayers was steady at 4.4 percent. For job-changers, the pace of growth slowed slightly, to 6.5 percent from 6.6 percent in April.
And yet amid all this... we are supposed to believe (according to UMich) that Americans' consumer sentiment is at record lows?
Source: ZeroHedge News
