U.S. Businesses Add Most Jobs in Almost a Year, ADP Data Show

The transcript discusses the job creation numbers for May, highlighting the ADP report's findings of nearly 1 million jobs created, with significant growth in leisure and hospitality. It compares ADP data with government payroll numbers, noting discrepancies and the market's interest in these figures. The discussion also covers labor market frictions, such as vaccination concerns and unemployment benefits, affecting job recovery.

What was the total number of jobs created in May according to the ADP report?

• 978,000

• 1,000,000

• 650,000

• 440,000

Which sector saw the largest job growth in May?

• Construction

• Manufacturing

• Leisure and Hospitality

• Technology

How does the ADP employment data typically relate to the official government payroll numbers?

• Government numbers are always higher

• They are not always correlated

• ADP data is usually higher

• They are always identical

What is one reason why ADP data is important to traders?

• It is released monthly

• It provides a coincident indicator for hiring

• It is always accurate

• It predicts stock market trends

What is one theory mentioned for the slow return of workers to the labor market?

• Concerns about vaccination

• Increased retirement rates

• Lack of job opportunities

• High inflation rates