The employment
report published by Automatic Data Processing Inc. (ADP) and Moody's Analytics showed
that U.S. private employers added 192,000 jobs in April.
Economists had predicted
an addition of 175,000 new jobs for April.
Meanwhile, the March
figure saw an upward
revision to 208,000 from the originally reported 184,000.
According to
the report, the April job increase was led by leisure and hospitality (+56,000),
construction (+35,000), trade, transportation and utilities (+26,000), and education
and health services (+26,000). At the same time, information (-4,000) was the only sector that shed jobs last month.
The report also
revealed that pay growth for job-changers decelerated last month, falling from 10.1
per cent y-o-y in March to 9.3 per cent y-o-y. Meanwhile, pay growth for
job-stayers was little changed at 5.0 per cent y-o-y.
Commenting on
the latest report, Nela Richardson, ADP’s chief economist, noted hiring was
broad-based in April. “Only the information sector - telecommunications, media,
and information technology - showed weakness, posting job losses and the
smallest pace of pay gains since August 2021,” she added.