Businesses add fewer jobs than expected in May

U.S. private employers created 133,000 jobs in May, fewer than expected, a report by a payrolls processor showed on Thursday.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 148,000 jobs. April's figure was revised down slightly to an increase of 113,000 from the previously reported 119,000.

The report is jointly developed with Macroeconomic Advisers LLC.

"It's a little light, but I don't think anyone will be very surprised. Recent data hasn't been great, and while this isn't a horrible number, it shows we're in a lackluster period in the economy right now. Hopefully the recent negative trends will reverse themselves, but it is hard to see what will cause that," said Wayne Kaufman, chief market analyst at John Thomas Financial.

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