Business Report: Private companies slow their hiring in May

Clip: 6/2/2022 | 3m 3sVideo has Closed Captions | CC

One economist said biggest constraint on the labor market is still the shortage of workers

Economists say there may be signs that the red-hot labor market is cooling. New Jersey-based ADP reports hiring slowed in May. Across the U.S., private companies added just 128,000 new workers, a decline from recent months and a weaker showing than expected. But one economist said on Thursday that the biggest constraint on the labor market is still the shortage of workers.

Aired 06/02/2022

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