US Firms Add 62,000 to Payrolls in April, ADP Data Show
Hiring at US companies moderated in April to the slowest pace in nine months, indicating waning demand for workers amid economic uncertainty.
Private-sector payrolls increased by 62,000 this month, according to ADP Research. The median estimate in a Bloomberg survey of economists called for a 115,000 gain.
Wednesday’s figures, alongside other recent data, paint a mixed picture of the labor market. While the ADP data shows a pullback in hiring, filings for unemployment benefits remain near pre-pandemic averages, indicating layoffs are still subdued.
Source: Bloomberg