Home / Business and Economy / US Employers Add 122K Jobs in May, Signaling Market Stability
US Employers Add 122K Jobs in May, Signaling Market Stability
3 Jun
Summary
- Private employers added 122,000 jobs in May, exceeding expectations.
- Hiring in May was more widespread than in recent years.
- Job openings rose in April, but hiring and quits rates decreased.
Private employers in the United States added 122,000 jobs in May, according to data released on Wednesday. This figure slightly exceeded economists' predictions of 120,000 new roles, indicating a continued stabilization of the labor market.
Nela Richardson, ADP's chief economist, highlighted that hiring in May was more broadly distributed across sectors than seen in previous years. She noted that the labor market is demonstrating sustained momentum as the summer hiring season approaches.
Recent government reports offer a more complex view. While job openings surged in April to their highest rate since May 2024, this growth was concentrated in professional and business services.
Conversely, overall hiring declined, and the quits rate, a measure of worker confidence, also saw a slight decrease. Experts suggest the labor market remains mostly stable, with neither employees nor employers rushing into major moves.
