U.S. Private Sector Employment Jumps Slightly More Than Expected In May

(RTTNews) - A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. jumped by slightly more than expected in the month of May.

ADP said private employment shot up by 122,000 jobs in May after increasing by a downwardly revised 105,000 jobs in April.

Economists had expected private sector employment to surge by 117,000 jobs compared to the addition of 109,000 jobs originally reported for the previous month.

"Hiring was more broad-based in May than we've seen in the last few years," said ADP Chief Economist Dr. Nela Richardson. "The labor market continues to show sustained momentum going into the summer hiring season."