financetom
Economy
financetom
/
Economy
/
US private payrolls beat expectations in March
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US private payrolls beat expectations in March
Apr 3, 2024 5:42 AM

WASHINGTON (Reuters) - U.S. private payrolls increased more than expected in March, pointing to continued labor market strength.

Private payrolls rose by 184,000 jobs last month after advancing by an upwardly revised 155,000 in February, the ADP Employment report showed. Economists polled by Reuters had forecast private employment increasing by 148,000 last month compared to the previously reported 140,000 in February.

The ADP report, jointly developed with the Stanford Digital Economy Lab, was published ahead of the release on Friday of the Labor Department's more comprehensive and closely watched employment report for March.

It has tended to grossly overstate the slowdown in the labor market compared to the official employment data. The labor market is gradually cooling following 525 basis points worth of interest rate hikes from the Federal Reserve since March 2022.

Government data on Tuesday showed there were 1.36 job openings for every unemployed person in February compared to 1.43 in January.

According to a Reuters survey of economists, the Labor Department's Bureau of Labor Statistics is expected to report that private payrolls rose by 160,000 jobs in March after increasing 223,000 in February.

Total nonfarm payrolls are estimated to have increased by 200,000 jobs in March after rising 275,000 in the prior month. The unemployment rate is forecast unchanged at 3.9% and annual wage growth slowing to 4.1% from 4.3% in February.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
If U.S. Election Is Disputed, Prediction Markets Could Face 'Hornet's Nest'
If U.S. Election Is Disputed, Prediction Markets Could Face 'Hornet's Nest'
Nov 4, 2024
At first blush, it looks redundant. The weekend before the U.S. presidential election, crypto-based prediction market Polymarket spun up a contract betting on who will be inaugurated as the next leader of the free world. As anyone who has paid the slightest bit of attention to crypto or election news coverage this year knows, Polymarket already had a heavily traded...
Bond investors minimize bets as US election overshadows Fed meeting
Bond investors minimize bets as US election overshadows Fed meeting
Nov 4, 2024
NEW YORK (Reuters) - Bond investors are keeping a defensive but neutral stance in managing portfolios ahead of this week's Federal Reserve policy meeting, which is being eclipsed by the too-close-to-call U.S. presidential election. Investors widely expect the U.S. central bank's policy-setting Federal Open Market Committee to cut its benchmark interest rate by 25 basis points to the 4.50%-4.75% range...
Bond investors minimize bets as US election overshadows Fed meeting
Bond investors minimize bets as US election overshadows Fed meeting
Nov 4, 2024
NEW YORK (Reuters) - Bond investors are keeping a defensive but neutral stance in managing portfolios ahead of this week's Federal Reserve policy meeting, which is being eclipsed by the too-close-to-call U.S. presidential election. Investors widely expect the U.S. central bank's policy-setting Federal Open Market Committee to cut its benchmark interest rate by 25 basis points to the 4.50%-4.75% range...
US factory orders fall a second straight month in September
US factory orders fall a second straight month in September
Nov 4, 2024
(Reuters) - New orders for U.S.-manufactured goods fell for a second straight month in September, and business spending on equipment appears to have pulled back in the third quarter. Factory orders dropped 0.5% after a downwardly revised 0.8% decrease in August, the Commerce Department's Census Bureau said on Monday. Economists polled by Reuters had forecast factory orders would fall 0.5%...
Copyright 2023-2025 - www.financetom.com All Rights Reserved