ADP Automatic Data Processing Inc

By Xavier Fontdegloria

The U.S. private sector continued to hire at a robust pace in March, data from the ADP National Employment Report showed Wednesday.

Employment in the nonfarm private sector increased by 455,000 in March, down from a 486,000 rise the previous month, broadly matching the 450,000 consensus forecast in a poll carried out by The Wall Street Journal.

February's employment growth was upwardly revised from an initially estimated gain of 475,000.

"Job growth was broad-based across sectors in March, contributing to the nearly 1.5 million jobs added for the first quarter in 2022," said Nela Richardson, chief economist at ADP.

Medium-sized businesses, between 50 and 499 employees, created 188,000 jobs over the month; while large businesses, those of at least 500 workers, added 177,000 jobs. Small businesses, between one and 49 employees, also added jobs, although at a lesser pace of 90,000.

By sector, services providers gained 377,000 jobs in March. The leisure and hospitality sector saw the largest increase, creating 161,000 new jobs. The goods-producing sector added 79,000 jobs, 54,000 of them in manufacturing.

"Businesses are hiring, specifically among the service providers which had the most ground to make up due to early pandemic losses," Ms. Richardson said. "However, a tight labor supply remains an obstacle for continued growth in consumer-facing industries."

The report, carried out by the ADP Research Institute along with Moody's Analytics, is based on data through the 12th of the month.

The U.S. Department of Labor is expected to release its employment report for March, which covers the same period as the ADP National Employment Report, on Friday. Economists polled by The Wall Street Journal are expecting it to show nonfarm payrolls up by 490,000, and the unemployment rate declining to 3.7%. The ADP series can diverge considerably from the Labor Department's official data.

Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com

(END) Dow Jones Newswires

March 30, 2022 08:50 ET (12:50 GMT)

Automatic Data Processing (NASDAQ:ADP)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024

Automatic Data Processing (NASDAQ:ADP)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024