U.S. jobs measure shows little progress in May

A key measure of U.S. job creation came in well short of expectations for May, suggesting a slowdown in employment growth as the effect of government budget cuts spills over into the private sector. The monthly report by payroll processing firm ADP showed growth of 135,000 jobs, a figure suggesting only slow progress in paring the unemployment rate, said Mark Zandi, chief economist at Moody’s Analytics. “It feels like we’re throttling back a little bit,” he said.

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