ADP data shows the US labor market may still be accelerating

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

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. (Jinshi Data)