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US private sector firms add to staff count in May

PRIVATE sector firms in the US took on 55,000 more staff in May down from an upwardly-revised 65,000 in April, the ADP payroll survey revealed yesterday.

Analysts were disappointed as they has expected a gain of around 70,000. Ian Shepherdson at High Frequency Economics said: “The survey has undershot the official private payroll numbers in nine of the past 10 months so it is a fair bet it will do the same in May.”

The ADP monthly survey only accounts for private sector jobs so it does not include the temporary census hires. As a result, today’s US non-farm payrolls report is expected to show an increase of 513,000 according to a consensus of economists.