Jobs, ADP: America loses nearly 2.8 million jobs in May


(Teleborsa) – US private sector employment falls but less than expected. In May, jobs fell by 2.76 million units, against the 9 million expected by the consensus and compared to -19.557 units in April (data revised from 20.236). The figure was announced by Automated Data Processing (ADP), which publishes this report on the labor market every month based on aggregate data from the private sector. This report precedes the official one of the Department of Labor which will be published on Friday 5 June.

In service sector (-1.9 million places), the sectors with the largest decreases were the financial and transport sectors.

In productive sector employment fell by 794 thousand units, driven by the manufacturing sector (-719 thousand units) and construction (-22 thousand units).

TO dimensional level, small businesses registered a decrease of 435 thousand employees, medium-sized businesses reported a decrease of 722 thousand jobs, while the large industry lost 1.6 million jobs.

(Photo: by Rabih Shasha on Unsplash)

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