ADP private payrolls surge more than expected

ADP private payrolls surge more than expected

ADP private payrolls surge more than expected

Jobs day is finally here.

Underlying job growth is probably running at about 200,000 per month, Zandi said in a press conference Thursday. The unemployment rate is expected to hold at 4.4 percent.

At 9:52 a.m. ET (1352 GMT) the Dow Jones Industrial Average was up 21.5 points, or 0.1 percent, at 21,030.15, the S&P 500 was up 6.16 points, or 0.25 percent, at 2,417.96 and the Nasdaq Composite was up 26.51 points, or 0.43 percent, at 6,225.03. Also closely watched will be the labor force participation rate as well as the broader underemployment rate - which includes those working part-time but would prefer to work full-time - which sat at a post-crisis low 8.6% in April. That's the longest streak since 1970.

Meanwhile, the Institute for Supply Management said its barometer of USA factory activity edged up to 54.9 last month from 54.8 in April, while ADP reported private payrolls grew by 253,000 last month, beating analysts' median forecast of a 185,000 increase.

A fourth report by global outplacement consultancy Challenger, Gray & Christmas showed layoffs announced by US-based employers surged 41 per cent to 51,692 in May.

The Institute for Supply Management is likely to report that its national manufacturing index slipped to 54.5 in May from 54.8 in April. Economists surveyed by The Wall Street Journal expected an increase of 180,000.

Trump to focus on trade deficit as he meets Vietnam leader
There's no cheating of any kind of products that we export to the United States", Mr Phuc said. Donald Trump will welcome Vietnamese PM Nguyen Xuan Phuc to the White House on Wednesday.

US private businesses added 253,000 jobs in May, a private survey found - a sign that employers expect economic growth to keep plowing ahead.

"Payrolls surprised to the downside in March due, in our view, to warm weather early in the year that may have pulled some hiring forward into January and February, and adverse weather in some regions of the country in March". They have now registered nine straight months of growth.

Job seekers work on their resumes during the Opportunity Fair and Forum employment event in Dallas. Mining has been one of the cornerstones of President Donald Trump's economic agenda, though critics doubt he can fulfill campaign promises to bring jobs back to the industry. "The current pace of job growth is almost three times the rate necessary to absorb growth in the labor force".

The decline came as General Motors, Fiat Chrysler, Hyundai and Toyota all reported decreases compared with a year ago.

The claims report has no bearing on the May employment report, which is scheduled for release on Friday, as it falls outside the survey period.

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