June 4 (UPI) -- Private payroll processor ADP reported Wednesday that May private sector job growth was at its lowest level in two years.
U.S. private employers added 37,000 jobs in May, the lowest pace of hiring since March 2023, ADP's monthly report said.
"After a strong start to the year, hiring is losing momentum," ADP Chief Economist Nela Richardson said in a statement. "Pay growth, however, was little changed in May, holding at robust levels for both job-stayers and job-changers."
The Dow Jones consensus expectation was 110,000.
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