Strong Job Growth Reported in March as Economists Anticipate Economic Resilience
Private sector added 155,000 jobs in March, exceeding expectations and indicating resilience in the labor market despite tariff-related uncertainties.
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The data adds to mounting evidence that the U.S. labor market remains resilient even as the economy adapts to a tougher, more strategically focused trade environment.
Hiring Accelerates in March Despite Tariff Hysteria, ADP Reports
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The upside surprise comes amid worries that President Donald Trump's aggressive tariffs could deter firms from adding to headcount and in turn slow business and consumer activity.
Private companies added 155,000 jobs in March, more than expected, ADP says
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The March topline number was a good one for the economy and employers of all sizes, if not necessarily all sectors.
Private sector added 155K jobs in March, above expectations, ADP says
Fox Business·18d·Mostly ReliableThis source is generally reliable but sometimes includes opinion, propaganda, or minor inaccuracies.Leans RightThis outlet slightly leans right.The labor market continues to steadily slow, though economists warn that President Donald Trump's blizzard of tariffs announcements since returning to the White House in January could significantly erode demand for labor.
US Private Payrolls Accelerate in March to 155K
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Summary
The ADP National Employment Report revealed the private sector added 155,000 jobs in March, outperforming economists' expectations of 115,000 and marking a significant increase from February's revised 84,000. Professional and business services led job creation with 57,000 positions, while financial activities and manufacturing added 38,000 and 21,000 jobs, respectively. Wage growth remained solid, with year-over-year pay increasing by 4.6% for job stayers and 6.5% for job movers. Despite concerns over President Trump's tariffs possibly impacting the economy, the data suggests a resilient labor market ahead of the upcoming BLS report.
Perspectives
Private payroll gains were stronger than expected in March with 155,000 jobs added, surpassing the forecast of 120,000 and indicating resilience in the labor market.
Hiring was broad-based, particularly in professional and business services, and overall wage growth remained robust with year-over-year increases of 4.6% for job-stayers.
Despite challenges such as policy uncertainty and sluggish consumer confidence, the data suggests a solid labor market moving forward.
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