U.S. private-sector employment increased by 122,000 in May, marking the largest rise since January last year. The ADP report exceeded the 117,000 consensus forecast and improved from the previous reading of 109,000, suggesting labor-market conditions strengthened during the month. The release also said job openings are increasing and layoffs remain low, signaling the labor market may be accelerating despite higher energy costs tied to the Iran war. If confirmed by official government data, the trend could bolster expectations that the Federal Reserve will raise rates rather than cut them in the coming months.