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Private sector employment rises by 200,000 jobs in March, says ADP

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Private sector employment rises by 200,000 jobs in March, says ADP

Private sector employment increased by 200,000 jobs in March,according to the ADP National Employment Report released March 30. The Februaryjobs gain was revised downward to 205,000 from 214,000.

Automatic Data ProcessingInc. produces the report in collaboration with Moody's Analytics. Thereport is derived from ADP's actual payroll data and measures the monthly changein total nonfarm private employment on a seasonally adjusted basis.

In March, job gains in large businesses slid to 39,000, comparedto February's 77,000. Small businesses recorded the largestincrease in the month in terms of company size as they added 86,000 employees overthe course of the month, compared to February's downwardly revised 68,000. Employmentin medium businesses increased by 75,000, up from 60,000 added in February.

Jobs in the service sector increased by 191,000, while goods-producingemployment rose by 9,000 jobs in March. February saw service job additions of 204,000positions, while goods-producing employment increased by a downwardly revised 2,000.

In terms of industries, financial activities added 14,000 jobs,and professional/business services jobs rose by 28,000. The biggest increase amongsectors was seen in trade/transportation/utilities, which added 42,000. Constructionadded 17,000, and manufacturing added 3,000.

"The job market continues on its amazing streak," saidMark Zandi, chief economist of Moody's Analytics, in a March 30 news release. "Theonly industry reducing payrolls is energy as has been the case for over a year,"he added.

"The March job gain of 200,000 is consistent with averagemonthly job growth of the past more than four years," Zandi said, adding thatall indications are that the "job machine will remain in high gear."

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