Private sector employment grew by 184,000 jobs in March, according to the latest ADP National Employment Report, after a reported increase of 140,000 jobs in February.
Year-over-year pay gains for job-stayers held at 5.1% in March, while job-changers experienced a significant jump to 10%. “March was surprising not just for the pay gains, but the sectors that recorded them,” said Nela Richardson, ADP’s chief economist. “The three biggest increases for job-changers were in construction, financial services, and manufacturing.”
Leisure/hospitality (+63,000), construction (+33,000), and trade/transportation/utilities (+29,000) led job growth in March. Meanwhile, professional/business services was the only sector to lose jobs over the month, declining by 8,000.
By region, job growth ranged from +20,000 jobs (Northeast) to +91,000 (South). The largest businesses (500+ employees) added 87,000 jobs, while the smallest businesses (1-19 employees) gained only 27,000 jobs, and establishments with 20-49 employees lost 11,000 jobs.
