May saw the nation’s employment level rise, as the private sector added 128,000 jobs, according to a Thursday release of the ADP National Employment Report.
Monthly job gains are closer to pre-pandemic levels under a backdrop of a tight labor market and elevated inflation.
“The job growth rate of hiring has tempered across all industries, while small businesses remain a source of concern as they struggle to keep up with larger firms that have been booming as of late,” Nela Richardson, chief economist for Roseland-based ADP, said.
In terms of company size, small businesses fared the worst, as they posted a loss of 91,000 positions. Medium-sized firms of 50-499 employees added 97,000 jobs, while large businesses gained 122,000 positions.
Looking at where these positions were added, the service-providing sector led the way with 104,000 positions filled; education and health services added 46,000 spots and professional and business services added 23,000.
In the goods-producing sector, manufacturing added 22,000 jobs, while construction decreased by 2,000.