Education and health services again dominated, adding 61,000 new hires. Trade, transportation and utilities saw a gain of 25,000. Construction, another consistent leader in recent months, rose by 10,000, while financial activities contributed 9,000.
The Trump administration’s efforts to reshore manufacturing jobs [through tariffs](https://www.cnbc.com/2026/05/01/trump-eu-auto-tariffs.html?&qsearchterm=tariffs) also showed only modest gains, with the sector adding 2,000. Leisure and hospitality and information services each saw growth of 4,000. Professional and business services reported a loss of 8,000.
From a size standpoint, companies with fewer than 50 employees added 65,000 while those with 500 or more workers added 42,000.
If one traces across the last 12-14 months basically all jobs gains have happened in Healthcare, you’ll have some sectors slightly up with others slightly down, all of those are volatile month to month – Healthcare is really the only thing posting consistent positive jobs figures as of late.
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From the article:
Education and health services again dominated, adding 61,000 new hires. Trade, transportation and utilities saw a gain of 25,000. Construction, another consistent leader in recent months, rose by 10,000, while financial activities contributed 9,000.
The Trump administration’s efforts to reshore manufacturing jobs [through tariffs](https://www.cnbc.com/2026/05/01/trump-eu-auto-tariffs.html?&qsearchterm=tariffs) also showed only modest gains, with the sector adding 2,000. Leisure and hospitality and information services each saw growth of 4,000. Professional and business services reported a loss of 8,000.
From a size standpoint, companies with fewer than 50 employees added 65,000 while those with 500 or more workers added 42,000.
[Actual report.](https://adpemploymentreport.com/artifacts/us_ner/20260506/ADP_NATIONAL_EMPLOYMENT_REPORT_Press_Release_2026_04%20FINAL.pdf?_ga=2.104980739.1007337821.1776806553-1312845895.1774389796)
Driven by healthcare (61,000) and trade/transportation/utilities (25,000). Construction added 10,000.
Also relatively robust April wage growth, for both stayers and leavers. Leavers likely see April real wage growth, stayers maybe.
GDP impacts of an oil shock [lag the inflation impacts](https://www.federalreserve.gov/econres/notes/feds-notes/oil-price-shocks-and-inflation-in-a-dsge-model-of-the-global-economy-20240802.html); why you won’t see much hit to labor market or BEA reports. And, looking at the magnitudes (Ukraine led to GDP falling by 0.13 pp), you’re likely looking at a slowdown in positive numbers, not negative ones.
If one traces across the last 12-14 months basically all jobs gains have happened in Healthcare, you’ll have some sectors slightly up with others slightly down, all of those are volatile month to month – Healthcare is really the only thing posting consistent positive jobs figures as of late.
Which is somewhat concerning tbh.