Job Report Ain't Good

Of course, this is the ADP report, which is not the same as the Biden Labor Department report.

Extending the recent trend of unexpectedly weak labor market indicators, moments ago ADP reported that in May, the US added just 152K Private Payrolls, a 36K drop from the March (downward revised) number of 188K (originally 192K) to the lowest number since the 111K reported in January...

The details are not very good, either.

 ...manufacturing and mining jobs seeing a sharp drop in jobs in the goods-producing category, coupled with further job losses in highly paid information and professional services. Meanwhile, the biggest gains were once again in the lowest paid education/health services....

But:  large-scale construction jobs (building factories) are up by a bunch.