The private sector added only 37,000 jobs in May, the lowest level in more than two years

Companies in the private sector Add 37,000 jobs only In May, ADP Treatment Company said on Wednesday.

This number is much lower than economists’ estimates for 110,000 jobs and reduce the revised reading of the previous month of 60,000. It has been the lowest since March 2023.

“After a strong start for this year, he has lost the momentum,” said Nella Richardson, ADP. “However, wage growth has not changed much in May, holding strong levels for both work companies and job exchange.”

The private sector added 62 kilos in April, much lower than expectations, says ADP

Entertainment and hospitality added 38,000 jobs, which creates job opportunities in May. Financial activities 20,000 jobs were added, the information was added 8000, the construction contributed 6000 and other services added 4000.

On the negative side, professional and commercial services lost 17,000 jobs during the month, while educational and health services lost 13,000 jobs. Natural resources and mining lost 5,000 jobs, trade, transport and lost facilities 4000, and manufacturing decreased by 3000.

Big companies – those that include 500 or more employees – lost 3000 jobs per month. Companies of 50 to 499 employees employed 49,000 workers. Institutions with less than 50 employees added 13,000 jobs.

President Donald Trump’s reaction to the data was in a publication on the social truth, and called on the chairman of the federal board of directors Jerome Powell To reduce interest rates.

“ADP number!” It is too late, “Powell must now reduce the average. It is incredible !!! It has reduced Europe nine times!” Trump said.

The Federal Reserve witnessed inflation, the unemployed, the risks of stability at the May meeting, the minutes of the minutes

President Recently criticized Powell In mid -May, indicating that the Federal Reserve Chair is behind the curve in reducing interest rates compared to America’s peers.

Trump met and Powell on Thursday At the White House for the first time in the second president, although the two did not discuss monetary policy.

The central bank said in a statement, “The President Powell did not discuss its expectations for monetary policy, with the exception of the assertion that the path of policy will depend entirely on the economic information received and what this means for expectations,” the central bank said in a statement.

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ADP data is released before Ministry of Labor Non -Zareed salary report, which is scheduled for Friday morning and can differ significantly. Government data is expected to show a 130,000,000 jobs, less than 177,000 amounts in April.