« on: June 01, 2017, 08:38:17 AM »
The best part of this is that it's from CNBC . . .
Private payrolls add 253K in May vs. 185K est.: ADP
- •Companies added 253,000 new jobs in May, well above expectations of 185,000 and April's 174,000.
- •Big growth areas were construction and professional and business services.
Jeff Cox | @JeffCoxCNBCcom
1 Hour Ago
Job creation surged in May thanks to a jump in construction positions and a boom in professional and business services, according to a report Thursday from ADP and Moody's Analytics.
Private payrolls increased by 253,000, well ahead of expectations. Economists surveyed by Reuters expected the report to show that private payrolls grew by 185,000 in May from 174,000 in April.
The growth "is three times the rate of the growth in the underlying labor force," Mark Zandi, the chief economist at Moody's Analytics, told CNBC. "So that means the unemployment rate, which is 4.4 percent, is quickly headed to 4 percent. This labor market is rip-roaring and getting really tight."
Services broadly led the way with 205,000 new jobs, with professional and business services contributing 88,000 — its best month in about three years — and education and health services adding 54,000.
Construction added 37,000 as the building season kicks into full gear, while manufacturing grew by 8,000 and there were 3,000 new mining jobs. Mining has been one of the cornerstones of President Donald Trump's economic agenda, though critics doubt he can fulfill campaign promises to bring jobs back to the industry.
The rest of this is here:
http://www.cnbc.com/2017/06/01/adp-private-sector-payrolls-may-2017.htmlWoo-hoo!
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