ADP data suggests the US labor market may still be accelerating

According to Odaily, in May, the number of new jobs added by US companies reached its highest level since January 2025, indicating that the labor market may still be accelerating despite rising energy costs due to the Iran war. The ADP data supports the view that the labor market may be gradually improving after months of uneven hiring, 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 the Federal Reserve is more likely to raise interest rates than cut them in the coming months. (Jin Shi)