Companies added workers to U.S. payrolls at a steady pace in April with increases across industries, data from the ADP Research Institute in Roseland, New Jersey, showed Wednesday.
Mark Zandi, chief economist at Moody's Analytics, said the disparity was due largely to weather.
"What was a surprise is that the ADP only revised its own estimate of the gain in March down trivially from 263,000 to 255,000, leaving it still a long way from the official out-turn".
Last month, you'll recall, this government report from the Bureau of Labor Statistics (BLS) showed a paltry 97K new jobs in the US for the month of March.
Yet the ADP figure covers only businesses and doesn't include government payrolls.
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Ahu Yildirmaz, vice president of the ADP Research Institute, said despite the slower pace of hiring in the first quarter, "the growth is more than strong enough to accommodate the growing population as the labor market nears full employment".
The ADP report is based on an analysis of the company's payroll data. Other goods-producing industries fared better: mining added 3,000 jobs, while manufacturing added 11,000 jobs.
ADP had a big miss in March, however, outrunning the private-sector reading within the government's report by 174,000.
"The softness in construction is continued payback from outsized growth during the mild winter", he said.
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The overall GDP deflator rose at a 2.2 percent annual rate, with the core PCE rising at a 2.0 percent annual rate in the quarter. And U.S. exports increased 5.8 percent in the first quarter, reversing a 4.5 percent decline the previous quarter.
Medium-sized businesses with 50 to 499 employees led the way in April, adding 78,000 jobs.
"Brick-and-mortar retailers cut jobs in response to withering competition from online merchants".
Economists had expected the April figure to be 175,000.
Construction hiring accelerated in the first two months of the year, when temperatures were warmer than usual, and has leveled off since then. But, with the unemployment rate down to only 4.5%, there is no way that employment could continue to expand at in excess of 200,000 per month.
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