U.S. Private Sector Employment Jumps By 192,000 Jobs In April, More Than Expected
(RTTNews) - Private sector employment in the U.S. increased by more than expected in the month of April, according to a report released by payroll processor ADP on Wednesday.
ADP said private sector employment shot up by 192,000 jobs in April after jumping by an upwardly revised 208,000 jobs in March.
Economists had expected private sector employment to climb by 175,000 jobs compared to the addition of 184,000 jobs originally reported for the previous month.
"Hiring was broad-based in April," said ADP chief economist Nela Richardson. "Only the information sector - telecommunications, media, and information technology - showed weakness, posting job losses and the smallest pace of pay gains since August 2021."
The report said employment in the service-providing sector increased by 145,000 jobs, while employment in the goods-producing sector rose by 47,000 jobs.
ADP also said year-over-year pay growth for job-stayers was little changed in April at 5 percent.
Meanwhile, pay growth for job-changers fell to 9.3 percent in April from 10.1 percent in March but remains higher than it was at the beginning of the year.
The Labor Department is scheduled to release its more closely watched monthly employment report for April on Friday.
Economists currently expect employment to jump by 243,000 jobs in April after surging by 303,000 jobs in March, while the unemployment rate is expected to hold at 3.8 percent.
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