ADP data indicates that 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, suggesting 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, after several months of uneven hiring, the labor market may be gradually improving, with job openings increasing and layoffs remaining low.

If this trend is confirmed by 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)