The U.S. economy saw a boost last month in the private sector, which grew by 201,000 jobs, according to the economic report released today by payroll-processing company ADP and its partner Moody's Analytics. This is up from the downwardly revised figures of 165,000 jobs added in April and 176,000 added in March.
"The labor market moved back up to the 200,000-jobs-added mark in May, a number which has been something of a bellwether for healthy employment growth,” said Carlos Rodriguez, president and chief executive officer of ADP, in a press release. “We hope that the May number is the beginning of an upward trend going into the summer months.”
Charts: Jess Rubenstein; Source: ADP and Moody's Analytics