According to the latest ADP National Employment Report, produced by ADP Research in collaboration with the Stanford Digital Economy Lab, private sector employment increased by 62,000 roles in March.
The report stated that the smallest employers drove job growth for a second month, while hiring in trade, transportation, and utilities continued to decline.
Dr. Nela Richardson, Chief Economist, ADP, said in the release, “Overall hiring is steady, but job growth continues to favor certain industries, including health care. In March, this solid performance was accompanied by a boost in pay gains for job-changers.”
The report follows recent government data depicting a challenging labor market this year: February’s hiring rate was the lowest since April 2020, with the month also losing 92,000 jobs and the unemployment rate rising to 4.4%.
The ADP National Employment Report is an independent measure of the labor market based on the anonymized weekly payroll data of more than 26 million private-sector employees in the United States.
By CEO NA Editorial Staff
