March's ADP National Employment Report presents strong employment growth in the U.S., with a net increase of 155,000 jobs exceeding forecasts amid low consumer confidence and trade policy uncertainties. Key sectors showing job gains include manufacturing, professional services, and financial activities. Although sectors such as natural resources and transportation lost jobs, the overall report suggests resilience in employment trends, particularly among larger companies. Additionally, pay increased by 4.6% year-over-year, indicating positive wage growth despite prevailing economic concerns.
The March topline number was a good one for the economy and employers of all sizes, if not necessarily all sectors," Nela Richardson, chief economist of ADP, said in a statement.
The hiring growth in March was driven by manufacturing, which added 21,000 jobs; professional and business services, which added 57,000; and financial activities, which grew by 38,000 positions.
Despite policy uncertainty and downbeat consumers, the bottom line is this: The March topline number was a good one for the economy and employers of all sizes.
The report shows that private sector employment grew by 155,000 jobs in March, more than the expected Dow Jones forecast of 120,000 jobs.
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