U.S. Private Businesses Add 263,000 Jobs In March: ADP-Moody's Survey

Thursday, 06 April 2017, 10:53 Hrs
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WASHINGTON: U.S. private businesses added 263,000 jobs in March, which is the most in more than two years, a private survey found.



Companies added 263,000 jobs for the month, which was well above the 245,000 reported for February, ADP and Moody's Analytics said.



In addition to the big gain on the headline number, the month also continued a trend away from services-oriented positions dominating job creation. Goods-producing firms contributed 82,000 to the total, as construction led the way with 49,000 new jobs, CNBC news reported.



Professional and business services was the leading sector, with 57,000, while leisure and hospitality added 55,000 and health care was up 46,000. Manufacturing payrolls grew by 30,000 and trade, transportation and utilities rose by 34,000.



In terms of company size, fewer than 50 employees was the biggest growth area, with 118,000. Firms that employ 50 to 499 workers added 100,000.



"Job growth is off to a strong start in 2017," chief economist of Moody's Analytics Mark Zandi said in a statement. "The gains are broad-based but most notable in the goods producing side of the economy including construction, manufacturing and mining."



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Source: IANS
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