Private payroll growth slowed to 62,000 in April, well below expectations

Private sector payrolls rose by just 62,000 for the month, the smallest gain since July 2024, down from 147,000 in March and missing the Dow Jones consensus estimate for an increase of 120,000.
Leisure and hospitality posted the biggest gain, adding 27,000 jobs. Others that showed increases included trade, transportation and utilities (21,000), financial activities (20,000), and construction (16,000).

Watch 온라인카지노사이트 5 free wherever you are

Companies slowed hiring sharply in April as they braced against potential impacts from President Donald Trump's tariffs against U.S. trading partners, ADP reported Wednesday.

Private sector payrolls rose by just 62,000 for the month, the smallest gain since July 2024, amid heightened uncertainty over the degree of the tariffs and the impact they would have on hiring plans and broader economic conditions.

Get top local stories delivered to you every morning with 온라인카지노사이트 DFW's News Headlines newsletter.

The total marked a deceleration from the and missed the Dow Jones consensus estimate for an increase of 120,000.

"Unease is the word of the day. Employers are trying to reconcile policy and consumer uncertainty with a run of mostly positive economic data," said ADP's chief economist, Nela Richardson. "It can be difficult to make hiring decisions in such an environment."

Wage gains also took a step backward, rising 4.5% from a year ago for those staying in their jobs, down 0.1 percentage point from March. However, job changers saw an increase to 6.9%, up 0.2 percentage point.

Money Report

news 56 mins ago

White House moving ‘as fast as possible' on India trade deal, Navarro says

news 1 hour ago

33-year-old went from making $15 an hour to having more than $100,000 in savings—but wishes she had more of a ‘safety net'

From a sector standpoint, leisure and hospitality posted the biggest gain, adding 27,000 jobs. Others that showed increases included trade, transportation and utilities (21,000), financial activities (20,000), and construction (16,000). Education and health services lost 23,000 positions while information services fell by 8,000.

The ADP estimate serves as a precursor to Friday's nonfarm payrolls data from the Bureau of Labor Statistics, and the two reports can differ substantially. Economists surveyed by Dow Jones are looking for job growth of 133,000 in the BLS report, which unlike ADP includes government hiring. The unemployment rate is expected to be unchanged at 4.2%.