U.S. Companies Added 55,000 Workers in May, ADP Says

Companies in the U.S. added workers in May, according to data from a private report based on payrolls.

Payrolls rose by 55,000, data from ADP Employer Services showed today. In the last six reports, ADP’s initial figures compared with the Labor Department’s first estimate of private payrolls have overstated losses by as much as 151,000 in November and underestimated gains by 199,000 in April.

The ADP figures were forecast to show an increase of 70,000 jobs, according to the median estimate of 34 economists surveyed by Bloomberg News. Projections ranged from gains of 35,000 to 180,000.

TradingEconomics.com, Bloomberg
6/3/2010 11:13:28 AM