ADP: US private payrolls up by 145,000 in March - Breaking The News

ADP: US private payrolls up by 145,000 in March

5 April

1 min read

EPA-EFE/ETIENNE LAURENT

Private payrolls in the United States increased by 145,000 in March, compared to 242,000 in February, according to the ADP National Employment Report on Wednesday. The figure, however, fell short of market estimates.

Large establishments added 10,000 jobs, medium businesses gained 33,000 jobs, while small establishments gained 101,000 jobs in March. Annual pay rose by 6.9% on a yearly basis, down from the 7.2% increase last month. Job changers also saw their pay growth decrease from 14.4% in February to 14.2% in March 2023.

"Our March payroll data is one of several signals that the economy is slowing," ADP chief economist Nela Richardson said. "Employers are pulling back from a year of strong hiring and pay growth, after a three-month plateau, is inching down," she added.

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