economy
Private sector hiring totaled 62,000 in March, better than expected, ADP says
Private sector employment growth kept pace, but health care and construction continued to provide nearly all the momentum.
TL;DR
- Private sector employment grew by 62,000 in March, surpassing the expected 39,000.
- Health care and construction sectors provided the majority of job momentum.
- Education and health services added 58,000 jobs, and construction added 30,000.
- Businesses with fewer than 50 employees led hiring, adding 85,000 jobs.
- Wage growth for job stayers was 4.5%, and for job changers was 6.6%.
- Information services, natural resources, mining, and leisure/hospitality also saw job gains.
- Trade, transportation, utilities, and manufacturing sectors experienced job losses.