ADP Reports US Economy Added The Most Jobs In 16 Months In May
AI Summary
ADP's latest report reveals that the US economy saw its largest job growth in 16 months in May, adding 122,000 jobs, surpassing expectations. This robust hiring indicates a broadening trend in employment sectors, according to Dr. Nela Richardson, ADP's Chief Economist, who highlights that the labor market is showing resilience. This significant uptick in job additions following a strong JOLTS report underscores the economy's robust recovery, potentially signaling a more sustained period of economic growth.
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