the american labor market continues to demonstrate its strength with the adp reporting thursday a notable and betterthanexpected surge in private employment in may concurrently the department of labor signaled a lowerthananticipated rise in unemployment claims last week further reinforcing healthy conditions in the job market these figures serve as a prelude to the highly anticipated nonfarm payroll report by the bureau of labor statistics scheduled for release friday alongside updates on the unemployment rate and wage growth mays adp employment report what you need to know   private businesses recorded an increase of 278000 jobs in may a slight dip from the revised figure of 291000 in april but significantly surpassing the expected 170000 as reported by automatic data processing inc on thursday   according to nela richardson adps chief economist there has been a notable decline in pay growth for job changers for the second consecutive month   pay growth is slowing considerably suggesting that wagedriven inflation may be less of a concern for the economy despite robust hiring   the growth in employment primarily stemmed from small and midsized companies which added 235000 and 140000 jobs respectively in contrast large companies reported a decline of 106000 jobs   the services sector exhibited positive performance by creating 168000 jobs led by the leisurehospitality sector with 208000 jobs and tradetransportationutilities with 32000 jobs other industries experienced declines with financial activities witnessing 35000 layoffs   within the goodsproducing industry there was an overall addition of 110000 jobs the natural resourcesmining sector contributed 94000 jobs construction contributed 64000 jobs and manufacturing reported a decrease of 48000 jobs read also us stocks set for higher open as house passes debt deal why this analyst sees possibility of june swoon key takeways from last weeks us unemployment claims   initial jobless claims came in at 232000 for the week ended may 27 marginally up from a revised level of 230000 the prior week and below expectations of 235000   the fourweek moving average for jobless claims which eliminates weektoweek variability ticked down from 232000 to 229500   continuing jobless claims for the week ended may 20 slightly rose from a revised lower 1789000 to 1795000 below than the forecasted 1800000   notable increases in jobless claims were reported in california up 44402 and in texas up 19344   marketimplied probabilities on a fed interest rate hike in june slightly surged to 33 after falling as low as 25 on wednesday due to fed officials dovish remarks   the us dollar index which is tracked by the invesco db usd index bullish fund etf  was flat for the day   futures on the sp 500 index which is tracked by the spdr sp 500 etf trust  were up 015 ahead of the opening bell   gold which is tracked by spdr gold trust  ticked 01 higher read now ai frenzy helps nasdaq 100 outshine russell 2000 and soar to dotcom bubble highs