ADP Shows 201K Private-Sector Jobs Added in March
Tweet
Share
E-mail
Companies continued to add private-sector jobs in the U.S. this month, a sign the labor market may be improving as the economic recovery trudges on.
ADP Employer Services reported Wednesday that employment increased by 201,000 jobs in March, following a revised 208,000 gain in February. The result missed the economist median estimate of 208,000 for March.
"Today's ADP National Employment Report confirms that U.S. private-sector employment growth has averaged about 175,000 jobs over the last six months," said Gary Butler, President and Chief Executive Officer of ADP. "Based on real-time information across all markets and industries, the ADP Report continues to estimate solid job growth that is now being reflected in other indicators of employment."
Small businesses led the way, hiring 102,000 additional workers in the private sector this month. Medium businesses added 82,000 jobs, while the large companies added 17,000.
The goods-producing sector rose by 37,000 positions, as service-providing jobs increased 164,000.
"The average monthly increase in employment over the last four months -- December through March -- has been 211,000, consistent with a gradual if uneven decline in the unemployment rate," Butler added.
The report comes ahead of the more inclusive non-farm payroll report on Friday, which economists expect to rise by 190,000. The unemployment rate is expected to stay at 8.9 percent for March.
ADP Employer Services reported Wednesday that employment increased by 201,000 jobs in March, following a revised 208,000 gain in February. The result missed the economist median estimate of 208,000 for March.
"Today's ADP National Employment Report confirms that U.S. private-sector employment growth has averaged about 175,000 jobs over the last six months," said Gary Butler, President and Chief Executive Officer of ADP. "Based on real-time information across all markets and industries, the ADP Report continues to estimate solid job growth that is now being reflected in other indicators of employment."
Small businesses led the way, hiring 102,000 additional workers in the private sector this month. Medium businesses added 82,000 jobs, while the large companies added 17,000.
The goods-producing sector rose by 37,000 positions, as service-providing jobs increased 164,000.
"The average monthly increase in employment over the last four months -- December through March -- has been 211,000, consistent with a gradual if uneven decline in the unemployment rate," Butler added.
The report comes ahead of the more inclusive non-farm payroll report on Friday, which economists expect to rise by 190,000. The unemployment rate is expected to stay at 8.9 percent for March.
Create E-mail Alert Related Categories
Economic Data, Insiders' BlogRelated Entities
ADP Employment ReportSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
