Ekonomické zprávy

U.S. private employers add 184,000 jobs in March - ADP

The employment report released by Automatic Data Processing Inc. (ADP) and Moody's Analytics showed that U.S. private employers added 184,000 jobs in March. This represented the highest number since July 2023 (+307,000).

Economists had foreseen an addition of 148,000 new jobs for March.

Meanwhile, the February figure  saw an upward revision to 155,000 from the originally reported 140,000.

According to the report, the March job gain was led by leisure and hospitality (+63,000), construction (+33,000), and trade, transportation and utilities (+29,000). At the same time, professional and business services (-8,000) was the only sector that shed jobs last month.

The report also revealed that pay growth for job changers accelerated dramatically last month, rising from 7.6 per cent y-o-y in February to 10.0 per cent y-o-y. Meanwhile, pay growth for job stayers remained unchanged at 5.1 per cent y-o-y.

Commenting on the latest report, Nela Richardson, ADP’s chief economist, noted March was surprising not just for the pay gains, but the sectors that recorded them. “The three biggest increases for job-changers were in construction, financial services, and manufacturing," she added. "Inflation has been cooling, but our data shows pay is heating up in both goods and services."

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