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- U.S. private employers add 129,000 jobs in March - ADP
U.S. private employers add 129,000 jobs in March - ADP
The employment report prepared by Automatic Data Processing Inc. (ADP) and Moody's Analytics showed on Wednesday the U.S. private employers added 129,000 jobs in March. That was the lowest monthly jobs gain since September 2017.
Economists had expected a gain of 170,000.
The increase for February was unrevised at 183,000.
“March posted the slowest employment increase in 18 months,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Although some service sectors showed continued strength, we saw weakness in the goods producing sector.”
Meanwhile, Mark Zandi, chief economist of Moody’s Analytics, noted, “The job market is weakening, with employment gains slowing significantly across most industries and company sizes. Businesses are hiring cautiously as the economy is struggling with fading fiscal stimulus, the trade uncertainty, and the lagged impact of Fed tightening. If employment growth weakens much further, unemployment will begin to rise.”
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