Last week Automatic Data Processing Inc. (ADP) reported that employment increased by 220,000 private sector jobs from March to April. Job creation in April increased by 11,000 from the previous month. The US Department of Labor noted a an uptick in applications for jobless benefits in April. Despite the job growth for April it appears that employers are holding on to workers and overall unemployment continues to decline.
ADP reported the 220,000 jobs that were created in April, small businesses with 1-49 employees added a respectable 82,000 jobs, followed by medium-sized businesses with 50-499 employees adding 81,000 jobs which was the fewest and large businesses with 500-1000+ employees adding in April 57,000 jobs. According to the ADP National Employment Report the Service Sector added 197,000 jobs in during the period, while the Goods Producing Sector added 24,000 jobs.
Chief economist, Mark Zandi of Moody's Analytics, said “The job market is gaining strength. After a tough winter employers are expanding payrolls across nearly all industries and company sizes. The recent pickup in job growth at mid-sized companies may signal better business confidence. Job market prospects are steadily improving.”
Carlos Rodriguez, ADP president and chief executive officer for ADP said, “The 220,000 U.S. private sector added in April is well above the twelve-month average. Job growth appears to be trending up and hopefully this will continue.”
The ADP National Employment Report is a monthly report that measures the change in total U.S. non farm private employment collected through anonymous ADP client companies. The ADP National Employment Report measures almost 24 million workers trends. The report is produced by ADP Research Institute in collaboration with Moody's Analytics, Inc. To view the full report can go to ADP National Employment Report.
The next ADP National Employment Report will be released on June 4, 2014 that will cover jobs created in May 2014.
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