Private-sector employment increased by 241,000 in March, on a seasonally adjusted basis, ADP estimated Wednesday.

ADP

In February, ADP says 246,000 jobs were added, compared to its previous estimate of 235,000.

Economists surveyed by IFR Markets projected a 205,000 job gain for March.

“We saw impressive momentum in the first quarter of 2018 with more jobs added per month on average than in 2017,” according to Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Midsized businesses added nearly half of all jobs this month, the best growth this segment has seen since the fall of 2014. The manufacturing industry also performed well, with its strongest increase in more than three years.”

“The job market is rip-roaring,” said Mark Zandi, chief economist of Moody’s Analytics. “Monthly job growth remains firmly over 200,000, double the pace of labor force growth. The tight labor market continues to tighten.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.
Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.