An Article Summarized by CNBC
A report from ADP showed that private payroll gains exceeded expectations in March, with companies adding 155,000 jobs, surpassing the 120,000 forecast and significantly improving from February’s revised 84,000. ADP’s chief economist, Nela Richardson, noted that the strong job numbers were a positive sign for the economy. Key job gains were seen in professional and business services (57,000), financial activities (38,000), and manufacturing (21,000), while trade, transportation, and utilities lost 6,000 jobs.
Wage growth remained steady, with earnings rising 4.6% for those staying in their roles and 6.5% for job changers, though the gap between the two hit a series low, indicating lower job mobility. Meanwhile, data from the Bureau of Labor Statistics (BLS) suggests that job openings are now nearly equal to available workers, a shift from prior years when openings far outnumbered job seekers. The ADP report precedes the upcoming BLS nonfarm payroll report, which is expected to show a slight slowdown in job growth to 140,000 in March from 151,000 in February.
For the full article: https://www.cnbc.com/2025/04/02/adp-jobs-report-march-2025-.html
