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Us Adds Private Sector Jobs, Jobless Claims Dip

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* Private employers added 55,000 jobs in May

* Markets bracing for best gov't jobs report since 1983

* Service sector grows, adds jobs for first time since 07

* Weekly jobless claims inch down by 10,000 last week (Updates with detail on retail sales, Fed's Lockhart, G20)

By Steven C. Johnson

NEW YORK, June 3 (Reuters) - U.S. private sector employers added jobs in May and the economy's dominant services sector increased payrolls for the first time in more than two years, building evidence that the labor market was picking up steam.

New claims for unemployment insurance also fell last week, leaving investors braced for more good news on Friday, when the government's employment report is expected to show the economy added more jobs in May than at any time since September 1983.

"I think these reports show the labor market is in fact stabilizing. (Private employment) was slightly weaker than expected but foreshadows a good number tomorrow," said John Doyle, currency strategist at Tempus Consulting in Washington.

Private employers added 55,000 jobs last month, according to the ADP Employer Services report on Thursday, a bit weaker than forecast but still a sign of improved conditions, analysts said. April's job gain was revised upward to 65,000 from an initially reported tally of 32,000.

Economists expect Friday's more closely-watched payrolls report, which includes private and public sector jobs, to show that the economy added 513,000 jobs in May and the jobless rate dropped to 9.8 percent from 9.9 percent in April.

Is the jobless recovery over?

Is the private sector adding jobs because people aren't paying the mortgages and deciding to spend there money and wait for the inevitable foreclosure.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
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