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ADP National Employment Report increased by 201,000
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Private-sector employment increased by 201,000 from February to March on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The ADP National Employment Report, created by Automatic Data Processing, Inc. (ADP®), in partnership with Macroeconomic Advisers, LLC, is derived from actual payroll data and measures the change in total nonfarm private employment each month.
According to the ADP Report, employment in the service-providing sector rose by 164,000 in March, marking fifteen consecutive months of employment gains. Employment in the goods-producing sector rose 37,000, the fifth consecutive monthly gain. Manufacturing employment rose 37,000, the sixth consecutive monthly gain.
Today’s ADP National Employment Report confirms that U.S. private-sector employment growth has averaged about 175,000 jobs over the last six months. Based on real-time information across all markets and industries, the ADP Report continues to estimate solid job growth that is now being reflected in other indicators of employment. I am encouraged that job growth in the first quarter of 2011 has shown considerable improvement compared to the last quarter of 2010.
This month’s ADP National Employment Report removes any remaining doubt that nonfarm private employment accelerated heading into 2011. The increase of 201,000 is in line with the consensus expectation both for today’s report and for Friday’s jobs report from the Bureau of Labor Statistics.
The average monthly increase in employment over the last four months – December through March – has been 211,000, consistent with a gradual if uneven decline in the unemployment rate. This is almost three times the average monthly gain of 74,000 over the preceding four months of August through November. Small-business employment continued to drive growth, rising 102,000 in March after a solid gain of 96,000 in February.
Posted: March 30, 2011 Wednesday 08:15 AM