ADP reports a rebound in U.S. private-sector hiring, with an increase of 978,000 jobs added in May. This significant rise in employment shows a promising sign of recovery for the U.S. economy as businesses start to reopen and resume operations following the COVID-19 pandemic.
The increase in hiring was seen across various industries, with the services sector leading the way by adding 850,000 jobs. This growth in employment suggests that businesses are confident in the economic outlook and are starting to invest in their workforce again.
The report also revealed that small businesses were the primary drivers of job growth, with companies employing fewer than 50 employees accounting for a majority of the new hires. This indicates that small businesses are starting to recover from the challenges posed by the pandemic and are beginning to rehire workers.
Overall, the ADP report paints a positive picture of the U.S. labor market, showing signs of a strong rebound in private-sector hiring and a hopeful path towards economic recovery.
For more details and the full reference, visit the source link below: