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- U.S. private employers add 517,000 jobs in March - ADP
U.S. private employers add 517,000 jobs in March - ADP
The employment
report prepared by Automatic Data Processing Inc. (ADP) and Moody's Analytics
showed on Wednesday the U.S. private employers added 517,000 jobs in March. This
marked the largest increase in private-sector employment since September 2020.
Economists had
expected an increase of 550,000.
The February
number saw an upward revision to 176,000 from the originally reported 117,000.
“We saw marked
improvement in March’s labor market data, reporting the strongest gain since September
2020,” noted Nela Richardson, chief economist, ADP. “Job growth in the service
sector significantly outpaced its recent monthly average, led with notable increase
by the leisure and hospitality industry. This sector has the most opportunity
to improve as the economy continues to gradually reopen and the vaccine is made
more widely available. We are continuing to keep a close watch on the hardest hit
sectors but the groundwork is being laid for a further boost in the monthly
pace of hiring in the months ahead.”
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