- ORIGINAL NEWS
Private payrolls increased by 192,000 in April, more than expected for resilient labor market
- SUMMARY
Private firms in the United States continued to hire at a brisk pace in April, adding 192,000 workers, according to ADP, a leading payroll processing company.
This exceeded analysts’ expectations of 183,000 but fell slightly below the revised 208,000 jobs created in March.
The report indicates ongoing strength in the labor market, with widespread hiring across various industries.
Leisure and hospitality saw the largest gains with 56,000 new jobs, while construction, trade and transportation, education and health services, and professional and business services also experienced increases.
However, worker pay growth decelerated, with annual pay gains reaching 5% in April, the lowest level since August 2021.
This may provide some relief amid concerns over persistent inflation.
The ADP report precedes the closely watched nonfarm payrolls report, which is expected to show a more comprehensive picture of job creation in the United States.
In recent months, ADP’s figures have consistently underestimated the Labor Department’s count, although the two were closer in March.
Economists anticipate a solid growth of 204,000 nonfarm payrolls in April, although it will be lower than the exceptional March figure of 303,000.
- NEWS SENTIMENT CHECK
- Overall sentiment:
positive
Positive
“ADP reported that companies added 192,000 workers for the month, better than the Dow Jones consensus outlook for 183,000 though a slight step down from the upwardly revised 208,000 in March.”
Negative
“The firm’s wage measure showed worker pay up 5% from a year ago, a multiyear low that provided some welcome news against multiple other signs showing inflation has proved more resilient than many economists and policymakers had expected.”