Factory Hiring Expected to Continue Despite Recovery's Hiccup

Following yesterday's gloomy reports on jobs and manufacturing, the optimism that was slowly building within the U.S. labor market dissipated faster than a raindrop on a hot sidewalk.

Payroll processing firm ADP reported that private employers added a mere 38,000 jobs last month, the smallest increase since September, while the Institute for Supply Management said its measure of manufacturing activity fell to a 19-month low in May, driven down by slower employment growth and fewer new factory orders.