employment report prepared by Automatic Data Processing Inc. (ADP) and Moody's
Analytics showed on Wednesday the U.S. private employers added 275,000 jobs in April.
That was the largest monthly jobs gain since July 2018.
Economists had expected a gain of 180,000.
The increase for March was revised up to 151,000 from the originally reported 129,000.
“April posted an uptick in growth after the first quarter appeared to signal a moderation following a strong 2018,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “The bulk of the overall growth is with service providers, adding the strongest gain in more than two years.”
Meanwhile, Mark Zandi, chief economist of Moody’s Analytics, noted, “The job market is holding firm, as businesses work hard to fill open positions. The economic soft patch at the start of the year has not materially impacted hiring. April’s job gains overstate the economy’s strength, but they make the case that expansion continues on.”
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