Private sector hiring slows down

(CNN)– Private sector hiring appears to be slowing down.

On Wednesday, June 4, payroll company ADP released its new employment report.

It found that private-sector firms added only 37,000 jobs in May.

That’s down from 60,000 in April, and significantly lower than the 130,000 jobs economists were expecting.

ADP says the 37,000 is the lowest monthly total since March 2023.

President Trump quickly responded to the jobs report.

He took to social media to again urge Federal Reserve Chair Jerome Powell to cut interest rates.