Private sector employment increased by 37,000 jobs in May, according to a report from ADP. This increase is at its lowest level since March 2023. “ADP NUMBER OUT!!! ‘Too Late’

U.S. President Donald Trump on Wednesday redoubled his calls for Federal Reserve Chair Jerome Powell to lower interest rates, noting that payroll processing firm ADP reported that job creation slowed in May.

Trump has repeatedly gone after Powell as the Fed has declined to immediately cut interest rates as the president requested.