ADP data suggests the US labor market may still be accelerating

According to Odaily, U.S. companies added the highest number of new jobs in May since January 2025, indicating that the labor market may still be accelerating despite rising energy costs due to the war with Iran. The ADP data supports the view that the labor market may be gradually improving after months of uneven hiring, with job openings increasing and layoffs remaining low.

If this trend is confirmed in official government data, it could fuel speculation that the Federal Reserve is more likely to raise interest rates than cut them in the coming months. (Jin Shi)