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US firms add 133,000 jobs in May

 

US firms add 133,000 jobs in May

US firms add 133,000 jobs in May
The US economy is improving to the extent that job increases are continuing to grow throughout the first half of the year, with more companies now feeling far more confident about hiring and adding a swelling number of jobs as a direct result to those who are looking to get into the labor market.

According to the latest figures released by the ADP National Employment Report, companies across the country added 133,000 private sector jobs between April and May. This was a sizeable swell, especially when compared to the rise in the number of people who were finding new work throughout the month between March and April, which amounted to some 113,000.

Carlos A. Rodriguez, president and chief executive officer of ADP, said that the positive movement for the employment market had been largely driven in the month as a result of good figures seen especially in the business services sector.

"Over the first quarter of 2012, monthly employment gains averaged just over 200,000. However, during the first two months of the second quarter, the average monthly employment gain slipped to 123,000. We hope to see expanded job creation in the future, fuelled by greater performance in the goods-producing and service-providing sectors alike."

However, Joel Prakken, chairman of Macroeconomic Advisers, said that although this was the 28th consecutive month that there had been gains made in the employment sector across the US, it still marked a considerable slowdown in the rate of hiring among companies in the country, which he credited to a renewed lack of confidence among firms in the financial situation across Europe, with Greece threatening to pull out of the single currency.

This news follows on from the reports earlier on in the week which said that employment and revenue figures for small businesses across the US had been improved, resulting in 40,000 jobs being created by these size of organisations alone and helping to offer more people vacancies throughout the month.

Posted by Fiona SummersADNFCR-1275-ID-801377682-ADNFCR

 
Posted: 01 June 2012 18:10:00
Filed under: North America
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