ADP says small business hiring slows in May

Small businesses created fewer jobs during May, joining larger companies in a slowdown that may be due to a lack of qualified candidates.

Payroll company ADP said Wednesday it counted 38,000 new jobs at its customers with 49 or fewer employees. That's down from an average of nearly 59,000 in the first four months of this year.

ADP's tally of new jobs at companies of all sizes fell to 178,000 from a four-month average of nearly 229,000.

Some companies have said in surveys they want to hire but struggle to find candidates with the right skills. A survey released Wednesday by the U.S. Chamber of Commerce and MetLife showed that 32 percent of the 1,002 small business owners questioned between late March and late April expect to hire.

In a separate survey taken in early April by Wells Fargo and Gallup, 43 percent of the 603 owners questioned want to hire.