ADP: May 2010 National Employment Report

Nonfarm private employment increased 55,000 from April to May 2010 on a seasonally adjusted basis, according to the ADP National Employment Report. The estimated change in employment from March to April 2010 was revised, from an increase of 32,000 to an increase of 65,000.
May’s rise in private employment was the fourth consecutive monthly gain. However, over
these four months the increases have averaged a modest 39,000. The slow pace of improvement from February through May is consistent with the pause in the decline of initial unemployment claims that occurred during the winter months.
Unlike the estimate of total establishment employment to be released on Friday by the Bureau of Labor Statistics (BLS), today’s ADP Report does not include any federal hiring in May for the
2010 Census. For this reason it is reasonable to expect that Friday’s figure for nonfarm total employment reported by the BLS will be considerably stronger than today’s estimate for nonfarm private employment in the ADP Report.
May’s ADP Report estimates nonfarm private employment in the service-providing sector rose
by 78,000, the fifth consecutive monthly increase. Employment in the goods-producing sector
declined 23,000 with employment in the manufacturing sector increasing 15,000, the fourth
consecutive monthly increase.
Large businesses, defined as those with 500 or more workers, saw employment increase by 3,000 and employment among medium-size businesses, defined as those with between 50 and 499 workers increased by 39,000. Employment among small-size businesses, defined as those with fewer than 50 workers, increased by 13,000 in May.*
In May, construction employment dropped 41,000. This was slightly less than last month’s decline of 42,000. This was its thirty-fifth consecutive monthly decline, and brings the total decline in construction jobs since the peak in January 2007 to 2,191,000. Employment in the financial services sector dropped 8,000, resulting in over three years of consecutive monthly decline.

http://www.adpemploymentreport.com/pdf/FINAL_Report_May_10.pdf