ADP: 177000 Jobs Added in April

May 04, 2017, 22:40
ADP: 177000 Jobs Added in April

But mere days after the April 5 ADP release, Washington's official non-farm payrolls account showed the USA economy created just 98,000 new positions for the month.

"Job growth slowed in April due to a pullback in construction and retail jobs", Mark Zandi, chief economist for Moody's Analytics, said in a statement. March's figure was revised down to 255,000. ADP, which jointly developed its employment report with Moody's Analytics, said private employers face increasing difficulty finding qualified workers in a tightening labor market.

The figures for April come after the government reported a sharp slowdown in consumer spending in the first three months of 2017 as the economy stumbled to its worst overall quarterly growth in two years.

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Economists use ADP's data to get a feeling for the Labor Department's employment report, which will be released Friday. It often diverges from federal data. ADP, a human resources management company, is based in Roseland, N.J.

Small businesses with fewer than 50 employees added 61,000 jobs, while medium businesses with between 50 and 499 employees added 78,000.

Most of the hiring was in services businesses, such as health care, restaurants, hotels, and shipping.

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"Brick-and-mortar retailers cut jobs in response to withering competition from online merchants". "Looking across company sizes, midsized businesses showed persistent growth for the past six months". Manufacturing added 11,000 jobs while construction lost 2,000 jobs. As far as today's ADP breakdown shows, the top job creators last month were in Professional/Business Services, Education/Healthcare, Leisure/Hospitality, with Construction jobs in the negative after warmer winter months pulled some of that sector's productivity to earlier in the year.

Economists polled by Econoday had forecast an April gain in ADP employment of 170,000, compared with an originally reported increase of 263,000 for March.

"W$3 ith the unemployment rate down to only 4.5 percent, there is no way that employment could continue to expand at in excess of 200,000 per month", he said in a note.

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