Lisa Gray has been a wealth writer since 2001. She has been involved in the wealth management industry since 1988. She is the author of two bestselling books—The New Family Office and Generational Wealth Management.| May Jobs Reports Continue To Disappoint, Adding More Uncertainty To The Health Of The US Recovery |
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| Thursday, May 31, 2012 12:59 |
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The report on private sector jobs fell short of the hoped for 150,000 in new jobs created during the month of May. The April report was revised downward from 119,000 to 113,000 and the May report showed that privately held businesses added 133,000 new jobs. This Website Is For Financial Professionals OnlyToday’s ADP report (May 31st) precedes the Bureau of Labor Statistics (non-farm payroll) report due Friday, June 1st. The ADP report only covers private sector jobs; the Bureau’s report includes government jobs, as well.
Estimates call for 155,000 new jobs to have been created on the non-farm payroll report. The last two months have fallen short of estimates, adding to the uncertainty surrounding the health of the US recovery.
The breakdown of the ADP report shows that jobs at businesses with over 500 employees increased by 9000; jobs at mid-sized business increased by 57,000; and jobs at small businesses (less than 50 employees) increased by 67,000.
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