Wednesday, April 4, 2012

ADP Employment Rose 209,000 in March

Employment grew by a seasonally adjusted 209,000 jobs in March according to ADP’s employment report released this morning. March’s rate of growth is slightly lower than February’s 230,000 pace (revised up from 216,000), however is right on the six month average and well above the year average of 158,000. The ADP report measures jobs created in only the nonfarm private business sector, thus is not affected by any government cuts. The report does however, provide a preview of Friday’s job report.

Gains in employment continue to be driven by the service sector, which added 167,000 jobs in March, down from the 183,000 jobs added in February. Growth in the goods producing sector was essentially steady from February’s level, creating 45,000 jobs. Manufacturing has now added jobs for five consecutive months, adding 23,000 after several months of contraction.

Read the report.

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