Thursday, June 3, 2010

Private Employment Grows Less Than Expected: ADP

The private sector added 55,000 jobs in May, less than expected as the employment picture continues a slow recovery, according to the ADP National Employment Report.

Unemployment line

The service sector added a net 78,000 jobs this month to spur the growth, but the goods producing sector saw a loss of 23,000 positions.

Stock futures briefly shed gains after the report but then turned around and continued to indicate a positive open on Wall Street.

The number compared with an upwardly revised gain of 65,000 in April, which was originally reported as a gain of 32,000. read more

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