In May, the US private sector added only 37,000 jobs, marking the slowest monthly job growth in over two years, according to the latest ADP National Employment Report. This number fell well short of Reuters’ forecast, which expected an increase of 110,000 jobs.
Following the report, President Trump criticized Federal Reserve Chair Jerome Powell, calling him “unbelievable” and urging him to lower interest rates immediately. Powell, however, has maintained that he is in “no hurry” to cut rates despite the weak job numbers.
The slow job growth in May signals ongoing caution in the US economy, raising questions about future Fed policies.
