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ADP: Private sector added 156,000 jobs in April; softest monthly report in years

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ADP: Private sector added 156,000 jobs in April; softest monthly report in years

Privatesector employment increased by 156,000 jobs in April, according to the ADP National Employment Report.

producesthe report in collaboration with Moody's Analytics. The report is derived fromADP's actual payroll data and measures the monthly change in total nonfarmprivate employment on a seasonally adjusted basis.

Small businesses recorded thelargest increases in April, adding 93,000 employees. Medium businesses added39,000 jobs and large businesses added 24,000 jobs in the month.

"Despite the softest overallmonthly jobs added in three years, small businesses remained an engine for jobgrowth in April," said Ahu Yildirmaz, vice president and head of the ADPResearch Institute.

"Smaller businesses are lesssusceptible to global conditions, such as low commodity prices and the strongdollar, that may have caused larger businesses to ease up on hiring," he added.

Goods-producing employment rose by11,000 jobs and service-providing employment climbed by 166,000 jobs in April.

By industry, professional andbusiness services registered the highest growth with the addition of 27,000jobs. Construction added 14,000 jobs; manufacturing added 13,000 jobs; trade,transportation and utilities added 25,000 jobs; and financial activities added4,000 jobs.

ADP revised the figure for total of jobs added to194,000 from 200,000.

"The job market appears tohave stumbled in April," Moody's Analytics chief economist Mark Zandi said.

"One month does not make atrend, but this bears close watching as the financial market turmoil earlier inthe year may have done some damage to business hiring," he added.