The non-farm private sector gained 145,000 jobs in March, according to the ADP National Employment Report. This follows a revised January increase of 261,000 jobs.
Small businesses with fewer than 50 employees gained 101,000 jobs. Medium-sized businesses with 50-499 employees gained 33,000 while large businesses gained 10,000 jobs.
“Our March payroll data is one of several signals that the economy is slowing. Employers are pulling back from a year of strong hiring and pay growth, after a three-month plateau, is inching down.” said Nela Richardson Chief Economist, ADP.
Service-providing employment gained 75,000 jobs, driven by gains in the leisure/ hospitality and trade, which grew by 98,000 and 56,000 jobs respectively.
Goods-producing employment gained 70,000 jobs in March. The Construction and Natural resources/Mining sector gained 53,000 and 47,000 jobs respectively. Manufacturing lost 30,000 jobs.
Read the ADP report.
