Companies in the private sector added just 37,000 jobs in May, payroll processing firm ADP said Wednesday.

The figure is well below economists’ estimates of 110,000 jobs and down from the prior month’s revised reading of 60,000.

"After a strong start to the year, hiring is losing momentum," said Dr. Nela Richardson, chief economist, ADP. "Pay growth, however, was little changed in May, holding at robust levels for both job-stayers and job-changers."

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The figure reported on Wednesday is well below economists’ estimates of 110,000 jobs and also down from the prior month’s revised reading of 60,000 jobs.{ai:summary}Private sector job growth slowed significantly in May, with only 37,000 jobs added, far below the expected 110,000. This marks a decline from the previous month's revised total of 60,000, indicating a loss of hiring momentum.Despite the drop in job creation, pay growth remained stable, with robust levels for both those staying in their positions and those changing jobs. #economy

Private sector added just 37,000 jobs in May, lowest in over 2 years, ADP says

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