Companies in US add 200000 jobs in March: ADP
Date
3/30/2016 10:13:21 AM
Washington:Companies in the United States continued to add a solid number of jobs in March increasing payrolls by 200000 as the labor market improves payroll firm ADP reported Wednesday.
ADP revised downward the February payrolls number to 205000 from 214000 but overall private sector job growth has held above 190000 for five months.
"The job market continues on its amazing streak" said Mark Zandi chief economist of Moody's Analytics which helps to compile ADP data.
Zandi pointed out that the March job gain is consistent with the average monthly job growth of the past four years with only the energy industry hit by falling oil and natural gas prices trimming payrolls for more than a year.
"All indications are that the job machine will remain in high gear" Zandi said in a statement.
Companies with at least 500 employees slowed hiring adding 39000 jobs in March about half the increase in February. Small businesses employing under 50 people boosted job gains to 86000 up from 68000 last month.
The data came ahead of Friday's official March jobs data. The Labor Department is expected to report the economy added 200000 jobs and the unemployment rate was unchanged at 4.9 percent an eight-year low.
AFP