ADP: Job creation drops to 9-year low in May

Job growth in the private sector slowed dramatically in May, adding to concerns of a deceleration in US economic expansion.

The latest national employment report from the ADP Research Institute and Moody's Analytics shows that private-sector jobs grew month over month in May, although by an underwhelming number. A recent string of weak reports on retail sales, factory orders and home purchases indicate growth is slowing as the trade war weighs on businesses. Mark Zandi, chief economist at Moody's Analytics, which helps compile the data, said the broader hiring trend is probably closer to the average of the two month's gains, at around 150,000.

USA services sector activity expanded at a brisk pace in May and industries hired more workers, offering some respite for an economy that is slowing following a temporary boost from exports and an accumulation of inventories in the first quarter.

In the goods-producing sector, all three industries saw job losses.

Stocks on Wall Street were trading higher. The ADP reported 271,000 additional jobs in April, while the BLS reported 236,000.

Private-sector employment increased by 27,000 jobs from April, with service sectors leading the charge to the tune of 71,000 jobs added in May.

Trump says progress made in US-Mexico talks 'not almost enough'
The considering delaying the tariffs as talks continue, according to people familiar with the matter. Trump warned late on Wednesday that "not almost enough" progress was being made.

"We are closely monitoring the implications of these developments for the USA economic outlook and, as always, we will act as appropriate to sustain the expansion, with a strong labor market and inflation near our symmetric 2% objective", Powell told a monetary policy conference in Chicago on Friday. Growth is expected to continue to slow as the global economy weakens, in part due to the Trump administration's new tariffs. CNBC's Rapid Update survey forecasts gains of just 1.7% in the second quarter.

The goods-producing sector, which accounts for construction, manufacturing and natural resource extraction, shed 43,000 jobs in May.

The federal government's May jobs report will be released Friday.

Economists polled by Reuters are forecasting non-farm payrolls to have increased 185,000 in May.

According to the ADP report, employment in the goods-producing sector fell by 43,000 jobs in May, the first drop in almost 2-1/2 years. The leisure and hospitality industry gained 16,000 jobs while the education and health sector gained more than double that, adding 33,000 positions.

Related News:

Most liked

Nokia 2.2 budget smartphone launched in India, price starts at Rs 6,999
Also, in terms of power, rumor has it the device will ship with Qualcomm's Snapdragon 632 on the inside paired with 4GB of RAM. Nokia has launched an introductory level smartphone, the Nokia 2 .2 with some decent specifications and an attractive price.

Tourist bus accident leaves 17 dead, several injured in Dubai
In a tweet, the Dubai police confirmed that the bus carried 31 people when it ran over a traffic signal. It said the dead included different nationalities, without elaborating.

New Huawei phones won’t come with Facebook, Instagram or WhatsApp
This move led to Google ceasing Android support for existing Huawei devices and no longer providing the system for future models. However, new Huawei devices will no longer be able to have Facebook, WhatsApp and Instagram pre-installed out of the box.

Transfer: Aubameyang receives £300,000-a-week offer to leave Arsenal
He scored 22 goals throughout the campaign, finishing joint top-scorer with Liverpool duo Sadio Mane and Mohamed Salah . The riches of the Chinese League could have persuaded Pierre-Emerick Aubameyang into a move this summer.

Wilmington-shot 'Swamp Thing' cancelled less than a week after premiere
All 10 episodes will be available to stream for subscribers, but the show will not proceed to a second season. There were also creative differences with different people who wanted a different kind of show.

Donald Trump 'moved' by Prince Charles about climate change
Morgan also pressed Trump on his own views of climate change science and whether or not Charles swayed him on the matter. For example, Charles supports the Paris climate accord that Trump promised to withdraw from. "Mr.

China issues white paper on trade issue with US
Over the past year or so, China and the United States held 11 rounds of high-level consultations and made substantial progress. The report was released one day after China raised duties on American products as a countermeasure to a U.S. tariff increase.

Konta beats Stephens to reach French semis
Konta, who had never before won a match here, will face either Petra Martic or Marketa Vondrousova for a spot in the final. Billie Jean King believes Johanna Konta is a better player than when she reached the semi-finals of Wimbledon.

Melania Trump fascinates with Givenchy's glamor at Winfield House
Have in mind, even sooner than Trump landed, he had labeled Meghan Markle "grisly" and the London mayor " a stone frigid loser ". The American leader, speaking in France on the 75th anniversary of D-Day, praised the monarch for being an "incredible lady".

Transfer: Solskjaer's first signing having Manchester United medicals today
A left-winger by trade, James lit up the EFL Championship in the 2018-19 season by virtue of a series of noteworthy performances. It is also an indication of United's faith in the young flyer and the high hopes they have for the 21-year-old.

Samsung Galaxy A30 June update fixes Telegram compatibility
The Cardinal Red option is now available for the 128GB Galaxy S10 and 128GB Galaxy S10 Plus, according to SamMobile . South Korean mobile company Samsung has rolled out a firmware update to the recently launched Galaxy A30.

Jussie Smollett 911 Call From Alleged Attack Released By Chicago Police
The operator told Gatson that Smollett had to file the police report himself. "I thought they [the police] would be here by now". Jussie Smollett said they shouted, "This is MAGA Country" and claimed his assaulters poured a bleach-like substance over him.

Five-star Starc seals Australia win over West Indies
Australia vs West Indies fixture will have a start time of 3:00 pm IST (Indian Standard Time) or 09:30 GMT local time. He also plays Twenty20 cricket for West Indies , but hasn't played a test match since 2014.

World Cup special bulletin from London on India's victory against SA
For South Africa, Kagiso Rabada took two wickets, while Chris Morris and Andile Phehlukwayo shared one wicket each. South Africa hasn't ever had a worse start to a World Cup, but skipper Faf du Plessis hasn't given up hope.

What Time Does ‘Black Mirror’ Season 5 Premiere on Netflix?
With Google announcing launch plans for its streaming enterprise later today, we wonder if it'll do better in our own timeline. Miley Cyrus singing Nine Inch Nails is not the most unexpected thing that's happened in Black Mirror , but it's up there.