Private-sector employment rose in May; however, job gains and pay growth are slowing going into the second half of the year. Employment rose by 152,000 jobs last month and annual pay was up 5%, according to the most recent ADP National Employment Report, released Wednesday.
“The labor market is solid, but we’re monitoring notable pockets of weakness tied to both producers and consumers,” Nela Richardson, chief economist, ADP, said.
When looking at where the jobs surfaced, the service-providing sector saw the biggest increases. Trade/transportation/utilities added 55,000 jobs, education/health services increased by 46,000 and construction jobs were up by 32,000 spots.
Large-sized establishments, those with 500 or more employees, experienced the largest bump in additions, with 98,000 jobs added.
