US private payrolls soar to almost 1M in May, most since last June

ANKARA

US private payrolls increased 978,000 in May, the highest monthly increase since last June, according to ADP Research Institute’s national employment report released on Thursday.

Analysts expected an increase of 650,000 but April’s figure was revised down from 742,000 to 654,000.

Small and medium businesses added 333,000 and 338,000 jobs, respectively, while large businesses added 308,000 in May.

"While goods producers grew at a steady pace, it is service providers that accounted for the lion’s share of the gains, far outpacing the monthly average in the last six months," ADP chief economist Nela Richardson said in the report.

"Companies of all sizes experienced an uptick in job growth, reflecting the improving nature of the pandemic and economy," she added.

The US government’s nonfarm payroll report will be released Friday and analysts expect it to show an increase of 650,000 jobs in May.