The US private sector created fewer jobs than expected in May
In May, 152,000 jobs were created, 23,000 less than expected.
(PXPhere)
(AFP) Job creation in the U.S. private sector slowed in May, mainly due to the sharp deterioration in the manufacturing sector, according to the monthly ADP/Stanford Lab survey published on Wednesday.
Last month, 152,000 jobs were created in the private sector, slightly less than the 188,000 that were created in April.
Analysts expected a less severe decrease, forecasting 175,000 new jobs, according to the Market Watch consensus.
"Job creation and pay growth are slowing going in the second half of the year," said Nela Richardson, chief economist at ADP.
"The labor market is solid, but we're monitoring notable pockets of weakness tied to both producers and consumers," she added.
These numbers are an indicator of the country's employment situation.
The unemployment rate is expected to remain stable at 3.9%, but job creation is expected to rise further, from 175,000 to 190,000, according to Market Watch.
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