Companies in the U.S. added fewer workers than forecast in May, a reminder the job market will take time to strengthen, a private report based on payrolls showed.
The 133,000 increase in employment followed a revised 113,000 gain the prior month that was smaller than initially estimated, Roseland, New Jersey-based ADP Employer Services said today. The median estimate of 39 economists surveyed by Bloomberg News called for a May advance of 150,000.
Businesses may be wary of adding workers until they see more evidence of a pickup in consumer spending, while Europe struggles with recession. A Labor Department report due tomorrow may show that private payrolls rose by 160,000 in May, and unemployment held at 8.1 percent, economists projected.
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