The latest ADP jobs report indicates that U.S. job growth in May was only 37,000, far below the 110,000 jobs forecast and less than the 60,000 jobs added in April. This marks a concerning trend as May could be the weakest month for job creation since March 2023. A more official jobs report from the Bureau of Labor Statistics is forthcoming, with experts predicting it will show 125,000 job creations. Additionally, earnings reports from large S&P 500 companies show mixed results, raising questions about future economic performance.
ADP's report revealed that the U.S. economy added only 37,000 jobs in May, significantly underperforming against the expected 110,000 jobs and April's 60,000.
The upcoming jobs report from the Bureau of Labor Statistics on Friday could either confirm or contradict ADP's dismal findings and is highly anticipated.
CrowdStrike's mixed guidance following strong earnings indicates uncertainty about future sales growth, despite achieving a profit exceeding analysts' expectations.
May is poised to be the weakest month for job creation in the last year, according to the latest ADP report, raising concerns about economic momentum.
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