Business

US businesses added solid 177000 jobs in April

US businesses added solid 177000 jobs in April”

Companies added workers to USA payrolls at a steady pace in April with increases across industries, data from the ADP Research Institute in Roseland, New Jersey, showed Wednesday.

The report's release comes after other recent signs the economy has slowed. That contrasted with the Bureau of Labor Statistics' jobs report, which showed the economy added 98,000 jobs. Although that figure is the lowest in six months, it is strong enough to keep the nation's 4.5 percent unemployment rate ticking down.

This report suggests Friday's non-farm payrolls report, released by the government, could alsocome in close to expectations. It often diverges from official data. ADP, a human resources management company, is based in Roseland, N.J.

Construction shed 2,000 jobs last month. Small businesses of fewer than 50 workers added 61,000 jobs, while large businesses of 500-plus workers added 38,000 positions.

As is usually the case, most of the new jobs - 165,000 - were created in service-providing industries - with professional/business services adding 72,000 positions, followed by administrative/support services (+53,000), education/health services (+41,000), leisure/hospitality (+ 35,000), and health care/social assistance (+22,000).

"The softness in construction is continued payback from outsized growth during the mild winter", he said in a statement.

Economists polled by Reuters expect us private payroll employment to have grown by 185,000 jobs in April, up from 89,000 the month before. Those businesses had added 44,000 net new jobs in March and a total of 154,000 in the first three months of the year as unusually warm weather allowed spring projects to begin early. Brick-and-mortar retailers also cut jobs in response to stiff competition from online merchants like Amazon.

"W$3 ith the unemployment rate down to only 4.5 percent, there is no way that employment could continue to expand at in excess of 200,000 per month", he said in a note.



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