Economics
US Companies Add Fewest Jobs of Pandemic Recovery, ADP Data Show
- Firms with fewer than 50 employees shed 91,000 jobs in May
- Leisure and hospitality added fewest jobs since December 2020
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US companies in May added the fewest jobs since the pandemic recovery began, a private report showed, suggesting employers struggled to recruit and retain workers in the month despite a near-record level of job openings.
Businesses’ payrolls increased by 128,000 last month, held back by a decline in small business employment, according to ADP Research Institute data released Thursday. That followed a downwardly revised 202,000 gain in April, and trailed all estimates in a Bloomberg survey of economists.