In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Wednesday, April 05, 2023

ADP: Private Employment Increased 145,000 in March

by Calculated Risk on 4/05/2023 08:19:00 AM

From ADP: ADP National Employment Report: Private Sector Employment Increased by 242,000 Jobs in February; Annual Pay was Up 7.2%

Private sector employment increased by 145,000 jobs in March and annual pay was up 6.9 percent year-over-year, according to the March ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”)
“Our March payroll data is one of several signals that the economy is slowing,” said Nela Richardson, chief economist, ADP. “Employers are pulling back from a year of strong hiring and pay growth, after a three-month plateau, is inching down.”
emphasis added
This was below the consensus forecast of 200,000. The BLS report will be released Friday, and the consensus is for 240 thousand non-farm payroll jobs added in March.