Employment within the U.S private sector rose by 978,000 in May from April level, according to a report by the ADP National Employment. The jobs addition reflected the strongest gain since economic recovery began.
Medium businesses added the most jobs at 338,000 while small businesses came second at 333,000.
Large businesses generated 308,000 jobs as gains were replicated across businesses of all sizes.
Across sectors, service-providing businesses had a lion’s share of job creation at 850,000, more than a six-month average.
Goods producing businesses contributed 128,000 jobs as franchise-focused entities added 57,700 jobs.
U.S stocks are currently declining as the dollar gains. SPY is down 0.54%, QQQ is down 0.97%, EURUSD is down 0.57%.
