ADP Data Suggests US Labor Market May Be Accelerating

Odaily Odaily Planet Daily News In May, the number of new jobs added by U.S. companies hit its highest level since January 2025, suggesting the labor market may still be accelerating despite rising energy costs due to the Iran war. The ADP data supports the view that, following several months of uneven hiring, the labor market may be gradually improving, with the number of job vacancies increasing and layoffs remaining low.

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