The workforce in the American private sector showed a steady increase in March, according to the ADP National Employment Report released on Wednesday.
Private employment rose by 62,000 jobs last month, following an upward revision of 66,000 jobs in February. Economists surveyed by Reuters had expected private employment to increase by 40,000 jobs after a rise of 63,000 in February.
The ADP report is developed in collaboration with the Stanford Digital Economy Lab and was released ahead of the more comprehensive and closely watched Bureau of Labor Statistics employment report for March, which will be published on Friday. ADP is a poor predictor of the BLS’s private payroll estimate.
According to a Reuters survey of economists, nonfarm payrolls likely increased by 60,000 after falling by 92,000 in February due to the end of a healthcare sector worker strike and rising temperatures.
Private jobs are expected to have increased by 70,000 after declining by 86,000 the previous month. The unemployment rate is expected to remain steady at 4.4%.
