ADP says businesses create the most new jobs in 16 months. Hiring rebounds after a lull.

In May, U.S. businesses added 122,000 new jobs, the highest jump in 16 months, according to ADP, signaling a notable rebound in hiring after a sluggish period. This surge is a positive indicator for the labor market, suggesting that companies are ramping up their recruitment efforts. It's significant because a rebounding job market can boost consumer confidence and economic growth, hinting at a potential recovery from the pandemic's labor disruptions.