U.S. private payrolls rise by 278,000 in May, topping estimates

Investing.com -- U.S. private payrolls increased by far more than expected in May, but fell compared to the previous month, in a sign of lingering labor strength despite elevated interest rates.

Private employment rose by 278,000 during the month, according to the ADP National Employment report on Thursday, topping economists' estimates of 170,000. The reading was lower than a downwardly revised level of 291,000 in April.

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