The non-farm private sector gained 296,000 jobs in April, according to the ADP National Employment Report. This follows a revised March increase of 142,000 jobs.
Small businesses with fewer than 50 employees gained 121,000 jobs. Medium-sized businesses with 50-499 employees gained 122,000 while large businesses gained 47,000 jobs.
“The slowdown in pay growth gives the clearest signal of what’s going on in the labor market right now. Employers are hiring aggressively while holding pay gains in check as workers come off the sidelines. Our data also shows fewer people are switching jobs.” said Nela Richardson Chief Economist, ADP.
Service-providing employment gained 229,000 jobs, driven by gains in the leisure/ hospitality and Education and health services, which grew by 154,000 and 69,000 jobs respectively.
Goods-producing employment gained 67,000 jobs in April. The Construction and Natural resources/Mining sector gained 53,000 and 52,000 jobs respectively. Manufacturing lost 38,000 jobs.
Read the ADP report.
