ADP private payrolls increase more than expected

Private payrolls in the US increased by 177,000 in April, according to the HR-services provider ADP.

Economists had estimated that private payrolls rose by 175,000, according to Bloomberg.

“Job growth is off to a strong start in 2017,” said Mark Zandi, the chief economist of Moody’s Analytics. “The gains are broad based but most notable in the goods producing side of the economy including construction, manufacturing and mining.”

Only the information industry recorded a decline in employment.

In March, private payrolls rose by 255,000, revised down by 8,000 on Wednesday. That contrasted with the Bureau of Labour Statistics’ jobs report, which showed the economy added 98,000 jobs.

The gap demonstrated why some economists have cautioned against using the ADP print as a preview of the official jobs report.

The consensus estimate for April nonfarm payrolls to be released on Friday is 190,000.

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