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US adds 263,000 private sector jobs, most since 2014, ADP reports

April 05, 2017

US private-sector employment jumped by 263,000 jobs in March from February, according to the ADP national employment report. This is an increase from 245,000 jobs added in February.

February’s increase was revised downward from 298,000.

Reuters reports US companies in March added the most workers since December 2014, suggesting further tightening of the labor market. Its survey of economists had forecast the report would show a gain of 187,000 jobs.

“Job growth is off to a strong start in 2017,” said Mark Zandi, chief economist of Moody’s Analytics, which produces the report in collaboration with ADP. “The gains are broad-based but most notable in the goods-producing side of the economy including construction, manufacturing and mining.”

The number of goods-producing jobs rose by 82,000, and service-providing jobs rose by 181,000.

“The US labor market finished the first quarter on a strong note,” said Ahu Yildirmaz, VP and co-head of the ADP Research Institute. “Consumer-dependent industries including healthcare, leisure and hospitality, and trade had strong growth during the month.”

Large businesses added 45,000 jobs in March. Midsize businesses added 100,000 jobs and small businesses added 118,000 jobs.