Private sector added 62,000 jobs in April, well below expectations, ADP says
The figure reported on Wednesday is well below economists’ estimates of 115,000 jobs and also down sharply from the prior month’s reading of 155,000 jobs.
Companies in the private sector added 62,000 jobs in April, payroll processing firm ADP said Wednesday.
The figure is well below economists’ estimates of 115,000 jobs and down sharply from the prior month’s reading of 155,000.
"Unease is the word of the day. Employers are trying to reconcile policy and consumer uncertainty with a run of mostly positive economic data," said ADP Nela Richardson, chief economist. "It can be difficult to make hiring decisions in such an environment."
The ADP data is released before the Labor Department's nonfarm payrolls report, which is due on Friday morning and can differ notably. The government data is expected to show an increase of 130,000 positions, below the 228,000 reported in March.
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