US Private Sector Added 191,000 Jobs In March

U.S. companies picked up the pace of hiring in March, signaling the dampening effects of harsh winter weather on job growth may be fading, a report by a payrolls processor showed on Wednesday.

Domestic private employers added 191,000 workers in March, slightly below economists’ expectations, while gains in the prior month were revised higher, the ADP National Employment Report showed.

“It was a nice spring rebound and we had an upward revision for February,” said Yelena Shulyatyeva, an economist with BNP Paribas in New York.

Economists surveyed by Reuters had forecast the ADP jobs report likely showed a gain of 195,000 jobs.

Private payrolls for February were adjusted higher to a gain of 178,000 from the previously reported 139,000.

via Reuters

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.