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Private Sector Job Growth

All articles tagged with #private sector job growth

businessemployment1 year ago

US Private Payrolls Surge by 184,000 in March, Outpacing Expectations

Private sector job growth in March exceeded expectations, with 184,000 jobs added and a 5.1% increase in wages for workers who stayed in their jobs. The strong employment pickup was broad-based, led by leisure and hospitality, construction, trade, transportation, and utilities, and education and health services. The South saw the biggest gains regionally, with most growth coming from companies employing more than 50 workers. The Federal Reserve's patience in easing monetary policy is supported by solid payroll growth and improving inflation, with interest rate cuts expected later this year.

via CNBC|
#adp#businessemployment#federal-reserve
economy2 years ago

Private sector job growth in August falls short of expectations, only 177,000 added: ADP report

Private sector job growth in the US cooled sharply in August, with companies adding only 177,000 jobs, below economists' expectations and the lowest since March. The slowdown in hiring suggests that the labor market is starting to cool amid higher interest rates. The weaker-than-expected report comes after the Federal Reserve's aggressive tightening campaign, and Chair Jerome Powell has indicated that more rate increases may be on the table. Wages continued to moderate in August, with annual pay rising at the slowest pace since October 2021. The leisure and hospitality sector saw the most significant slowdown in job growth, while education and health services accounted for the biggest gains.

via Fox Business|
#adp-national-employment-report#economy#federal-reserve
economy2 years ago

Private sector job growth in June surpasses expectations, signaling strength in US labor market

Private sector job growth in the US unexpectedly surged by 497,000 in June, more than double the predicted gain, according to the ADP National Employment Report. This marks the largest one-month gain in over a year and indicates a tight labor market despite higher interest rates. Wages continued to moderate, with annual pay rising 6.4% in June. The majority of job gains were in the service-providing sector, particularly in leisure and hospitality, while manufacturing saw significant losses. Medium and small businesses led the way in hiring, reversing previous struggles. The official June jobs report from the Labor Department is expected to be released on Friday.

via Fox Business|
#adp-national-employment-report#economy#interest-rates