Indicators
Hiring at US Companies Tops All Forecasts, ADP Data Show
- Private payrolls increased by 278,000 in May, led by leisure
- Wage growth slowed, including for people changing jobs
Figures on Wednesday indicated demand for labor remains strong.
Photographer: Spencer Platt/Getty ImagesEmployment growth at US companies last month exceeded all projections, highlighting a durable labor market that continues to buttress the economy.
Private payrolls increased 278,000 following a revised 291,000 gain in April, according to figures published Thursday by the ADP Research Institute in collaboration with Stanford Digital Economy Lab. The median estimate in a Bloomberg survey of economists called for an increase of 170,000.