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U.S. private sector adds 201,000 jobs in May

Xinhua, June 4, 2015 Adjust font size:

The U.S. private sector added 201,000 jobs in May, the best performance since February, said a private survey released Wednesday.

U.S. private companies added 201,000 jobs in May, up from 165, 000 jobs in April, said the National Employment Report released jointly by Automatic Data Processing (ADP) and Moody's Analytics, based on a monthly survey.

"The labor market moved back up to the 200,000 jobs added mark in May, a number which has been something of a bellwether for healthy employment growth," said Carlos Rodriguez, president and chief officer of ADP.

"We hope that the May number is the beginning of an upward trend going into the summer months," said Rodriguez.

In May, small- and medium-sized businesses accounted for most of the employment gains, adding 187,000 jobs, while large businesses with over 500 employees added 13,000 jobs, according to the report.

Employment in the service sector rose by 192,000 jobs in May, up from 164,000 in April. Meanwhile, the manufacturing sector lost 5,000 jobs, after losing 10,000 in the prior month.

Mark Zandi, chief economist of Moody's Analytics, predicted that at the current pace of job growth the economy will be back to full employment by this time next year, adding that "the only blemishes are the decline in mining jobs due to the collapse in oil prices and the decline in manufacturing due to the strong dollar."

The ADP survey studied data from private businesses with more than 23 million workers on payrolls but excludes government job growth. Endite