Private Employment Grows Slowly; Weekly Claims Drop June 3, 2010
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The number of U.S. workers filing new claims for jobless benefits fell last week, while private employers added jobs in May, further evidence the labor market was improving.
The data on Thursday came ahead of the government’s closely watched employment report on Friday, which is expected to show non-farm payrolls increased 513,000 in May, buoyed by hiring for the decennial census, after a 290,000 increase in April.
That would mark five straight months of job gains.
Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 453,000, the Labor Department said. That was a touch above market expectations for 450,000.
Separately, private employers added 55,000 jobs in May after increasing payrolls by 65,000 the prior month, an ADP Employer Services report showed. Though the ADP report was weaker than forecast, analysts said it offered evidence the labor market was getting better.
Read more at CNBC.
