June 4, 2008
ADP: April-May Employment Increases
By Matthew L. Brown
Private employment increased by 40,000 from April to May, according to the ADP National Employment Report.
The estimated change in employment from March to April was revised up from an increase of 10,000 to an increase of 13,000.
ADP, a payroll processing company, said May's estimate for a moderate increase in employment is above the consensus for a decline, but still suggests continued weakness in employment. Employment in the service-providing sector of the economy grew by 77,000, while employment in the goods-producing sector declined 37,000, the 18th consecutive monthly decline in that sector. Manufacturing employment fell 26,000 in May, marking its 21st consecutive monthly decline.
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