IBJNews

Hiring at U.S. companies picked up momentum in March

Back to TopCommentsE-mailPrintBookmark and Share

A private survey shows that U.S. companies increased hiring at a healthy pace last month, suggesting that the jobs market is recovering from a brutal winter.

Payroll processer ADP says private employers added 191,000 jobs in March. ADP also revised February's job creation up to 153,000 from an originally reported 139,000.

The construction industry added 20,000 jobs in March, up from an average 16,000 the previous three months. Financial firms added 5,000 jobs, the most since November. Hiring was healthy across most industries and businesses of different sizes.

The numbers suggest that the government's jobs report for March, to be released Friday, will show stronger hiring. Economists forecast the government will report that employers added 195,000 jobs last month. That would be the strongest one-month gain since November.

The ADP numbers cover only private businesses and often diverge from the government's more comprehensive report.

The economy appears to be gaining some momentum after an unusually cold and snowy winter. On Tuesday, the Institute for Supply Management, a group of purchasing managers, reported that U.S. manufacturing grew at a slightly faster pace last month as factory output bounced back from disruptions caused by severe winter weather.

U.S. auto sales rose 6 percent to 1.5 million vehicles last month, far outpacing analysts' expectations. The sales pace was the fastest since November, according to Autodata Corp.

Mark Zandi, chief economist at Moody's Analytics, which prepares the ADP numbers, said the hiring last month was "very consistent with the kind of job growth we were getting before the winter months and is suggestive of economic growth of somewhere around 3 percent" at an annual rate. The economy grew a sluggish 1.9 percent last year.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
ADVERTISEMENT