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Private sector employment increased by 189,000

Wednesday, Apr 01 2015
Private sector employment increased by 189,000 jobs from February to March,missing expectations on an increase by 227,000. Payrolls for businesses with 49 or fewer employees increased by 108,000 jobs in March, up from 103,000 in February.  Employment among companies with 50-499 employees increased by 62,000 jobs, up from 57,000 the previous month.  Employment at large companies – those with 500 or more employees – decreased from February adding 19,000 jobs, down sharply from 53,000.  Companies with 500-999 employees added 7,000 jobs, down from February’s 11,000.  Companies with over 1,000 employees added 12,000 jobs, down from 43,000 the previous month.  
 
"March job gains came in under 200,000 for the first time since January of last year,” said Carlos Rodriguez, president and chief executive officer of ADP.  “The decline was centered in the largest companies, those with 1000 or more employees.” Mark Zandi, chief economist of Moody’s Analytics, said, “Job growth took a step back in March. The fallout from the collapse in oil prices and surge in value of the dollar is hitting the job market.  Despite the slowdown, underlying job growth remains strong enough to reduce labor market slack.” 
 
After the data USD was pushed lower. Euro is currently being traded around 1.0790 area, Sterling is slightly below 1.48 handle, while Aussie is few points above 0.7620 level. Later today, Manufacturing PMI data is scheduled for a release.
More in this category: « U.K. Manufacturing PMI at an eight-month high U.S. Manufacturing PMI decreased in March »

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