Wednesday, May 2, 2012

ADP: Employment Rose 119,000 in March

Employment in the non-farm private sector increased by 119,000 jobs in April according to ADP data released this morning. April’s jobs growth represents a decline from the 201,000 jobs (revised down from 209,000) added in March. April’s gain is disappointing, given expectations for nearly 170,000.

March’s ADP report, initially indicating 209,000 new jobs, preceded a disappointing employment report by the BLS, which reported only 120,000 non-farm jobs added in the month. This month’s disappointing ADP report could be a bad sign for Friday’s employment situation.

April’s job growth came primarily from the service sector, which added 123,000 jobs. The goods producing sector shed 4,000 jobs over the month. Notably, the small and medium sized firms reported the majority of the gains in employment, with large firms (500 or more employees) only reported gains of 4,000 jobs.

Read the report.

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