US private sector employment rises more than expected in April - ADP
Private sector employment in the US rose more than expected in April, according to figures released on Wednesday by ADP.
Source: Sharecast
Employment rose by 109,0000 from March, versus expectations for a 99,000 increase. Meanwhile, the March figure was revised to show that 62,000 jobs were added, rather than 61,000.
Small businesses with fewer than 50 employees added 65,000 jobs, while medium businesses with between 50 and 499 employees added 2,000 jobs. Large businesses with more than 500 employees created an additional 42,000 jobs.
The service sector added 94,000 jobs, while the goods-producing sector saw a 15,000 increase.
Pay growth for job-stayers slowed slightly to 4.4% while for job-changers, year-over-year pay gains were steady at 6.6%.
Nela Richardson, chief economist at ADP, said: "Small and large employers are hiring, but we're seeing softness in the middle.
"Large companies have resources to deploy, and small ones are the most nimble, both important advantages in a complex labour environment."
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