Washington – U.S. private businesses added the most jobs in more than two years last month, a private survey found, a third straight month of robust gains.
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Payroll processor ADP said Wednesday that businesses added 263,000 jobs in March, the most since December 2014. That is up from 245,000 in February, which was revised lower.
The figure is much higher than economists’ forecasts for the government’s jobs report, to be released Friday. Analysts predict that report will show 178,000 jobs were added, according to data provider FactSet.
The healthy gain follows solid increases in January and February and suggests that rising business confidence is translating into stronger hiring. Small business optimism soared after the November presidential election and is near a record high. Widespread improvement in the global economy has also bolstered larger firms’ outlook.
The data also indicates that hiring remains strong even though growth appeared to slow in the January-March quarter. Many economists estimate that the economy grew at roughly a 1 percent annual rate in the first three months of the year. That would be half the 2.1 percent pace in last year’s fourth quarter.
The ADP report “is clearly another indication that, despite the apparent slowdown in GDP growth in the first quarter, labor market conditions have remained unusually strong,” Andrew Hunter, U.S. economist at Capital Economics, a forecasting firm, said.
Small and medium-sized businesses posted the biggest increases. Small companies with fewer than 50 employees added 118,000 jobs, while medium-sized firms added 100,000.
The job gains were led by big increases in construction, manufacturing, and professional and business services, which includes high-paying fields such as accounting and engineering.
Construction companies added 49,000 jobs, a third straight month of robust gains that partly reflects the unseasonably warm winter weather experienced by much of the country. Yet homebuilders are also stepping up construction in response to heavy demand for homes.
Businesses that serve consumers also added a healthy number of positions, a sign that companies are seeing stronger demand.
A category that includes retailers and shippers added 34,000 jobs, while restaurants, hotels and amusement parks added 55,000 jobs.
The ADP covers only private businesses and often diverges from official figures. In February, ADP said that employers added 298,000 jobs, much higher than the government’s figure of 238,000.
Obamzer will take credit.
You foolish liberals who blindly follow obumer and Hillary!
Obumer could make jobs if he was it in the face with it!
Obumer worse president all around!
Can you read? Most jobs in 2 years. It simple means that 2 years ago when Barack Hussein Obama was the PRESIDENT of the USA there were more jobs created than last month. Yes Obama gets the credit for it.
Thank you president Trump!!!!
Payroll processor ADP said Wednesday that businesses added 263,000 jobs in March. The figure is much higher than economists’ forecasts for the government’s jobs report, to be released Friday. Analysts predict that report will show 178,000 jobs were added
Obama had many months above 250K (see list below), but all I heared republicans were complaining about anemic job growth.
In 2014 the entire year average was 250,000.
From 2011 – 2017 (6 entire years) the average growth was 201K
Now republicans are so excited with any number above 200K.
Here is a list of months with job growth above 250K (17 in total)
• April 2011 – 346K
• January 2012 – 358K
• February 2013 – 286K
• November 2013 – 258K
• March 2014 – 272K
• April 2014 – 329K
• May 2014 – 246K
• June 2014 – 304K
• September 2014 – 280K
• November 2014 – 312K
• December 2014 – 255K
• April 2015 – 262K
• May 2015 – 344K
• July 2015 – 254K
• October 2015 – 321K
• November 2015 – 272K
• June 2016 – 297K
• July 2016 – 291K