US private sector employment rises more than expected - ADP

1st May 2024 13:56

(Sharecast News) - Private sector employment in the US rose more than expected April, according to figures released on Wednesday by the ADP.

Employment increased by 192,000 from March, versus expectations for a 180,000 jump. Meanwhile, March's gain was revised from 184,000 to 208,000.

Small businesses with fewer than 50 employees added 38,000 employees, while medium businesses with between 50 and 499 employees added 62,000.

Large businesses with more than 500 employees created an additional 98,000 jobs.

The service sector added 145,000 jobs, while the goods-producing sector saw a 47,000 increase.

Nela Richardson, chief economist at ADP, said: "Hiring was broad-based in April.

"Only the information sector - telecommunications, media, and information technology - showed weakness, posting job losses and the smallest pace of pay gains since August 2021."