US private sector adds 173,000 jobs in May - ADP

Private sector employment increased by 173,000 jobs from April to May according to the ADP National Employment Report. This reading stood slightly below the 175,000 expected by analysts.

Meanwhile, separated data showed initial claims for unemployment benefits across the US, decreased by 1,000 to a seasonally adjusted 267,000 in the week ended May 28, below the 270,000 expected and marking the third consecutive week of declining claims.  

Attention now turns to the US government report on employment, to be released tomorrow.