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ADP National Employment Report Increased by 184,000 jobs in March 2024
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Private sector employment increased by 184,000 jobs in March and annual pay was up 5.1 percent year-over-year, according to the March ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab.
“March was surprising not just for the pay gains, but the sectors that recorded them. The three biggest increases for job-changers were in construction, financial services, and manufacturing,” said Nela Richardson, chief economist, ADP. “Inflation has been cooling, but our data shows pay is heating up in both goods and services.”
JOBS REPORT
Private employers added 184,000 jobs in March
Last month saw the biggest jump in hiring since July, led by leisure and hospitality. Job gains were strong across industries with the exception of professional services, where hiring fell.
PAY INSIGHTS
Pay gains for job-changers jumped in March
For job-stayers, year-over-year pay gains were flat at 5.1 percent after months of steady deceleration. At the same time, gains for job-changers rose dramatically to 10 percent, the second straight increase.
The February total of jobs added was revised from 140,000 to 155,000.
Posted: April 3, 2024 Wednesday 08:15 AM