EconomyLens.com
No Result
View All Result
Friday, July 4, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

US private sector job growth higher than expected: ADP

Natalie Fisher by Natalie Fisher
May 1, 2024
in Economy
Reading Time: 5 mins read
A A
3
26
SHARES
321
VIEWS
Share on FacebookShare on Twitter

US private companies added 192,000 jobs in April, according to payroll firm ADP. This was down slightly from March but more than analysts expected.. ©AFP

Washington (AFP) – Hiring in the US private sector cooled in April but job growth was still higher than anticipated, boosted by the services sector, payroll firm ADP said Wednesday.

Related

Bombers and a ‘beautiful bill’ — Trump celebrates US Independence Day

BRICS nations to gather without Xi, Putin

South American bloc looks to Asia, Europe in face of Trump trade war

China to require EU brandy exporters to raise prices or face tariffs

Rio to host BRICS summit wary of Trump

Companies added 192,000 jobs last month, down slightly from a revised 208,000 in the month before, the report said.

The labor market has shown resilience despite the US central bank’s efforts to keep interest rates elevated and fight stubborn inflation.

While higher rates raise the borrowing costs for consumers and businesses — and can weigh on employment — the jobs market has held up with employers reluctant to let go of workers they initially struggled to find.

The strength of the job market has in turn helped to support consumer spending.

“Hiring was broad-based in April,” said ADP chief economist Nela Richardson.

She added that only the information sector, such as telecommunications and media, showed weakness.

In particular, the leisure and hospitality sector added a solid 56,000 jobs while the construction sector added 35,000 roles.

Wage growth “continues to slow,” ADP said, though the average hiring pace has accelerated in the last three months.

This should provide some relief to policymakers and assuage concerns that high wages could add to inflation.

Pay gains for those who remained in their jobs were little changed at five percent, while gains for those who switched jobs slipped from 10.1 percent to 9.3 percent.

Other sectors adding jobs included trade, transport and utilities, as well as education and health services, said ADP.

But analysts caution that private payroll numbers can be revised significantly.

“The labor market is likely to loosen going forward on the effects of restrictive monetary policy,” said economist Rubeela Farooqi of High Frequency Economics.

“But we expect job growth to remain positive and expect the unemployment rate to remain low, supportive of economic activity this year,” she added.

Later Wednesday, the Federal Reserve is set to announce if it will make changes to interest rates.

The central bank is expected to keep rates steady with inflation still above policymakers’ longer term two percent target.

© 2024 AFP

Tags: economic growthemploymentjobs
Share10Tweet7Share2Pin2Send
Previous Post

Dollar steady and London shares higher before Fed update on rates

Next Post

UK drugmaker GSK posts mixed first-quarter earnings

Natalie Fisher

Natalie Fisher

Related Posts

Economy

Trump to sign ‘big, beautiful’ bill on US Independence Day

July 4, 2025
Economy

Trump wins ‘phenomenal’ victory as Congress passes flagship bill

July 4, 2025
Economy

What is the state of play with Trump’s tariffs?

July 3, 2025
Economy

Where do trade talks stand in the rush to avert higher US tariffs?

July 4, 2025
Economy

World Bank’s IFC ramps up investment amid global uncertainty

July 4, 2025
Economy

South American bloc looks to Asia, Europe in face of Trump trade war

July 3, 2025
Next Post

UK drugmaker GSK posts mixed first-quarter earnings

Pfizer profits drop on lower Covid-19 product sales

Wall Street mixed, dollar steady ahead of Fed update on rate outlook

US Federal Reserve keeps interest rates at 23-year high

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
3 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

72

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

France says ‘major issues’ remain despite brandy price accord with China

July 4, 2025

BRICS nations to gather without Xi, Putin

July 4, 2025

France praises China Cognac progress, warns of unresolved issues

July 4, 2025

Modi pushes further India-Africa cooperation on Ghana visit

July 4, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.