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Financial News: U.S. Private Sector Employment Jumps Much More Than

U.S. Private Sector Employment Jumps Much More Than Expected In April

05/01/2019 - 08:22:00 (RTTNews)

(RTTNews) - After reporting much weaker than expected job growth in the previous month, payroll processor ADP released a report on Wednesday showing private sector employment jumped by much more than anticipated in the month of April.

ADP said private sector employment surged up by 275,000 jobs in April after climbing by an upwardly revised 151,000 jobs in March.

Economists had expected employment to increase by about 180,000 jobs compared to the addition of 129,000 jobs originally reported for the previous month.

"April posted an uptick in growth after the first quarter appeared to signal a moderation following a strong 2018," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.

She added, "The bulk of the overall growth is with service providers, adding the strongest gain in more than two years."

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