The non-farm private sector gained 247,000 jobs in April, according to the ADP National Employment Report. This follows a revised March increase of 479,000 jobs.
Small businesses with fewer than 50 employees lost 120,000 jobs. Medium-sized businesses with 50-499 employees gained 46,000, while large businesses increased by 321,000 jobs.
“In April, the labor market recovery showed signs of slowing as the economy approaches full employment,” said Nela Richardson, chief economist, ADP. “While hiring demand remains strong, labor supply shortages caused job gains to soften for both goods producers and services providers. As the labor market tightens, small companies, with fewer than 50 employees, struggle with competition for wages amid increased costs.”
Service-providing employment gained 202,000 jobs, driven by gains in the leisure & hospitality and professional/business services sectors, which grew by 77,000 and 50,000 jobs respectively.
Goods-producing employment gained 46,000 jobs in April. The manufacturing sector gained 25,000 jobs and construction gained 16,000 jobs. Natural resources/mining also gained 4,000 jobs.
Read the ADP report.
