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The March jobs report from ADP showed private companies added 155,000 positions, significantly outpacing both February’s revised 84,000 figure and the Dow Jones forecast of 120,000.
This positive economic indicator comes amid concerns about President Trump’s tariff policies potentially slowing hiring and economic activity. Job growth was widespread across sectors, with professional and business services adding 57,000 positions, financial activities growing by 38,000, manufacturing contributing 21,000, and leisure and hospitality adding 17,000.
Service providers accounted for 132,000 of the new jobs, though some sectors saw losses, including trade, transportation and utilities (-6,000) and natural resources and mining (-3,000). On the wage front, earnings rose 4.6% year-over-year for those staying in their positions and 6.5% for job changers, with the narrowing gap between these figures suggesting reduced worker mobility. The report precedes the Bureau of Labor Statistics’ nonfarm payrolls report, which is expected to show 140,000 new jobs in March.
