Private sector employment grew modestly last month by 40,000 jobs, according to a report by payroll giant ADP.

The ADP National Employment Report showed that small businesses, with less than 50 employees, added 61,000 jobs in May. Midsized businesses, with between 50 and 499 employees, lost 3,000 jobs, however. The picture was even worse for large businesses, which subtracted 18,000 jobs.

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