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U.S. Private Sector Employment Jumps Much More Than Expected In May
(RTTNews) - Private sector employment in the U.S. jumped by much more than expected in the month of May, according to a report released by payroll processor ADP on Thursday.
The report said private sector employment shot up by 278,000 jobs in May after surging by a revised 291,000 jobs in April.
Economists had expected private sector employment to increase by 170,000 jobs compared to the spike of 296,000 jobs originally reported for the previous month.
ADP noted jobs gains were fragmented last month, with leisure and hospitality, natural resources, and construction taking the lead, while manufacturing and finance lost jobs.
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