Dimitri Otis/DigitalVision via Getty Images
- U.S. Private Sector Employment rose 192K in April, exceeding the +175K expected and easing from the +208K jobs added in March (revised from 184K), according to the ADP National Employment Report.
- Annual pay increased 5.0% Y/Y, roughly stable with March’s 5.1% pace. For job changers, annual pay rose 9.3% Y/Y vs. 10.1% in March.
- “Hiring was broad-based in April,” said Nela Richardson, chief economist, ADP. “Only the information sector — telecommunications, media, and information technology — showed weakness, posting job losses and the smallest pace of pay gains since August 2021.”
- The average pace of hiring accelerated over the last three months after slowing late last year, almost matching gains made in the first half of 2023, ADP said.
- The service-providing sector added 145K jobs, led by leisure and hospitality, which added 56K, followed by trade/transportation/utilities with 26K new hires.
- In the goods-producing sector, which added 47K jobs, construction employment increased by 35K.
