US Private Sector Adds 62,000 Jobs in March ADP Report
Private employment in the United States increased by 62,000 jobs in March, according to the latest ADP report. This growth exceeded economist expectations of 40,000.
Private sector employment in the United States maintained a steady pace of growth in March, according to the latest national employment report released on Wednesday. Data from AUTOMATIC DATA PROCESSING revealed that private payrolls expanded by 62,000 positions last month. This follows a revised gain of 66,000 jobs in February, which was higher than the previously reported 63,000.
The results surpassed market expectations, as economists surveyed by Reuters had anticipated an increase of only 40,000 jobs. The report, produced in collaboration with the Stanford Digital Economy Lab, serves as a precursor to the more comprehensive employment data from the Bureau of Labor Statistics scheduled for release this Friday. Historically, ADP has been an inconsistent predictor of the official government private payrolls estimate.
