The non-farm private sector gained 155,000 jobs in March and annual pay was up 4.6% Year-over-Year, according to the ADP National Employment Report. This follows an upward revision of January’s report from 77,000 to 84,000.
Small businesses with fewer than 50 employees gained 52,000 jobs. Medium-sized businesses with 50-499 employees gained 43,000 jobs and large businesses gained 59,000.
“Despite policy uncertainty and downbeat consumers, the bottom line is this: The March topline number was a good one for the economy and employers of all sizes, if not necessarily all sectors,” said Nela Richardson, chief economist, ADP.
Service-providing employment gained 132,000 jobs driven by gains in professional/business services which grew by 57,000, followed by financial activities which grew by 38,000.
Goods producing-employment gained 24,000 jobs. Manufacturing gaining 21,000 jobs followed by construction gained 6,000 jobs, while natural resources/mining lost 3,000 jobs.
Read the ADP report.
