Moody's Economist Dislikes May Job Numbers

ROSELAND, NJ—Moody’s Analytics Chief Economist Mark Zandi says he is disappointed with private sector job numbers in May, but is bullish on the national employment picture long-term.

Roseland-based ADP reports that just 179,000 private sector jobs were added nationwide from April to May, as compared to 215,000 new jobs during the March to April period. Gallup, on the other hand, reports that its job creation index hit a new high at +27 in May, the highest ever for its national employment index, according to NJBiz.com. Gallup reports in its May survey that 40% of employers reported company job growth, 13% reported their company was reducing its work force and 41% reported no change in employee count.