US private payrolls rise by 152,000 in May, less than estimates

ISTANBUL

US private payrolls rose by 152,000 in May, less than market estimates, according to a report released Wednesday by a research institute.

The market expectation for the figure was to show an increase of 173,000 jobs.

The figure for April was revised down to a gain of 188,000, from an increase of 192,000.

"Job gains were slower in May due to a steep decline in manufacturing," said the ADP Research Institute in collaboration with Stanford Digital Economy Lab. "Leisure and hospitality also showed weaker hiring."

Nela Richardson, the ADP chief economist, said job gains and pay growth are slowing going into the second half of this year. "The labor market is solid, but we're monitoring notable pockets of weakness tied to both producers and consumers," he added.

Among businesses, small businesses lost 10,000 jobs, while mid-sized and large enterprises experienced gains of approximately 79,000 and 98,000 jobs, respectively.

Trade, transportation and utilities sector posted the highest gain by adding 55,000 jobs, followed by education and health services with an increase of 46,000.