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To: Land Shark who wrote (1018879)

6/2/2017 1:00:40 PM

From: locogringo

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Private sector job growth rebounds to
‘rip-roaring’ pace in May, ADP says

Market Watch, by Andrea Riquier

Private-sector hiring surged in May, according to a report released Thursday. Employers added a seasonally adjusted 253,000 during the month, payroll processor ADP said. Mark Zandi, chief economist for Moody’s Analytics, which helps produce the report, called job growth “rip-roaring.” That was a much stronger pace of hiring than the Econoday consensus, which had called for 170,000 jobs. Economists watch ADP’s report for clues about the government’s monthly payroll data, due out Friday, though ADP has an imperfect record of forecasting the Labor Department’s numbers. The MarketWatch consensus for the government data is for a gain of 185,000 jobs. (Snip) A 4% rate is “dead ahead.”

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