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ADP report: U.S. added 241,000 private jobs in March

ADP report: U.S. added 241,000 private jobs in March
UPI

April 4 (UPI) — Private sector employment increased in March by 241,000 jobs, the ADP National Employment Report said Wednesday.

The monthly report, privately produced by ADP Research Institute and Moody’s Analytics, indicated non-farm private payrolls increased for the fifth consecutive month.

Service industries made up 176,000 of the increases in positions — including 44,000 in professional and business services, and 40,000 in the category of trade, transportation and utilities.

The goods-producing sector was responsible for the remaining 65,000 jobs, notably in manufacturing and construction.

“We saw impressive momentum in the first quarter of 2018 with more jobs added per month on average than in 2017,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Mid-sized businesses added nearly half of all jobs this month, the best growth this segment has seen since the fall of 2014. The manufacturing industry also performed well, with its strongest increase in more than three years.”

Only the education and franchise jobs sectors saw a loss.

“The job market is rip-roaring. Monthly job growth remains firmly over 200,000, double the pace of labor force growth. The tight labor market continues to tighten,” said Mark Zandi, Moody’s Analytics chief economist.

The ADP report offers a possible preview of the Labor Department’s March jobs report, which is due Friday.

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