Slowing economy slows employment per ADP

It shouldn’t come as too much of a surprise given the recent slowdown in economic activity, as the ADP Employment report revealed that the private-sector added just 38,000 jobs last month – see details at Examiner.



May’s rise was the smallest number since last July when ADP reported the private-sector created 31,000 new jobs.

Treasuries are up, with the yield on the benchmark ten-year bond dipping below 3.0% for the first time in nearly six months, and stocks are reacting accordingly.

Economic data have been weak lately, indicating that the economy has hit a soft spot.

But Friday’s labor report will garner the lion’s share of attention, as it is generally considered the gold standard when it comes measuring the temperature and barometric pressure of the labor market.