Private payrolls rose by smaller-than-expected 152,000 in May - ADP

Investing.com -- Private payrolls increased at a slower-than-anticipated rate in May, in the latest sign of a cooling in the U.S. labor market.

Companies added 152,000 workers during the month, falling from a downwardly revised total of 188,000 in the prior month, according to figures from payrolls processor ADP. Economists had predicted a reading of 173,000.

The data comes a day after a separate report showed that job openings slipped to their lowest level in over three years in April.

These numbers point to a possible easing in labor demand in the world's largest economy, a trend that could fortify projections that the Federal Reserve will choose to slash interest rates later this year. In theory, a slowdown in the jobs market may relieve some upward pressure on wages and, by extension, inflation.

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