Private sector added just 37,000 jobs in May, lowest in over 2 years, ADP says

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June 4, 2025 8:25am EDT
Private sector added just 37,000 jobs in May, lowest in over 2 years, ADP says
ADP releases private sector jobs data

By Matthew Kazin FOXBusiness

Companies in the private sector added just 37,000 jobs in May, payroll processing firm ADP said Wednesday.

The figure is well below economists’ estimates of 110,000 jobs and down from the prior month’s revised reading of 60,000.

"After a strong start to the year, hiring is losing momentum," said Dr. Nela Richardson, chief economist, ADP. "Pay growth, however, was little changed in May, holding at robust levels for both job-stayers and job-changers."

President Donald Trump reacted to the data in a post on Truth Social.

"ADP NUMBER OUT!!! "Too Late" Powell must now LOWER THE RATE. He is unbelievable!!! Europe has lowered NINE TIMES!" Trump said.

This is a breaking news story. Please check back for updates.
https://www.foxbusiness.com/economy/private-sector-added-just-37000-jobs-may-lowest-over-2-years-adp-says

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Trump Calls for Fed Cut After ADP Sees Hiring Collapse

excerpt:

The Fed has kept its interest rate target steady this year despite a significant decline in inflation and growing concerns about economic growth. It cut rates at three consecutive meetings at the end of the Biden administration, including a controversial half point cut several weeks before the election.

Goods-producing sectors shed a total of 2,000 jobs in May, as employment fell by 5,000 in natural resources and mining and 3,000 in manufacturing. These losses were partially offset by a gain of 6,000 jobs in the construction industry.

In the service sector, job growth was led by leisure and hospitality, which added 38,000 positions, and financial activities, which gained 20,000. However, this was counterbalanced by notable declines: professional and business services lost 17,000 jobs, education and health services dropped 13,000, and trade, transportation, and utilities saw a decrease of 4,000.

Small businesses with fewer than 50 employees cut 13,000 jobs, while large firms with 500 or more workers reported a loss of 3,000 positions. In contrast, mid-sized companies expanded payrolls by 49,000.

Wage growth remained strong: workers who stayed in their roles saw annual pay increases of 4.5 percent, while job switchers experienced 7 percent gains. Both figures were largely unchanged from April, and still reflect a “robust” pace, according to Richardson.

https://www.breitbart.com/politics/2025/06/04/trump-calls-for-fed-cut-after-adp-sees-hiring-collapse/