US ADP Report: Robust jobs report

Today ADP employment numbers were released from the US for the month of May.

ADP number shows the US labor markets remains strong.

There are two things to note in the headline that,

• Robust jobs report shows that April dip was one off an event.

• April payroll got a revision. It has now revised to 174,000 (down from 177,000).
   

Key highlights –

• Non-farm private sector employment grew at 253,000 in May, the median expectation was for 185,000.
• Small business sector hiring at 83,000, compared to 61,000 last month.
• Employment in franchise increases to 18,400 compared to last month’s 5,400.
• Mid-sized companies added 113,000 jobs compared to last month’s 78000 jobs.
• The Large sector added just 57,000 compared to last month’s 38,000 jobs.
• Manufacturing sector payroll registered 8,000 jobs gain compared to 11,000 job gain last month.
• 48,000 jobs were gained in the goods-producing sector, compared to last month’s 2,000 jobs loss.
• The construction sector saw 37,000 jobs gain, compared to last month’s 2,000 jobs loss.
• Services sector employment remains robust as payroll added 205,000 people in May. April gains were 165,000.

The dollar index is currently trading at 99.15, up 0.17% for the day so far.