US private payrolls rose by 200,000 in March, according to ADP Research Institute.
Economists had estimated that private payrolls grew by 195,000, according to Bloomberg. The February print was revised down to 205,000 from 214,000.3
Moody’s Analytics chief economist Mark Zandi said in the release, “The job market continues on its amazing streak. The March job gain of 200,000 is consistent with average monthly job growth of the past more than four years.”
“The only industry reducing payrolls is energy as has been the case for over a year. All indications are that the job machine will remain in high gear.”
Manufacturing jobs rebounded to a gain of 9,000 from a decline of 3,000 in February.
The trade, transportation and utilities sector had a particularly strong month — its best since last June.
The number of job gains in the service sector slowed to 191,000 from 204,000 in February. Goods-producing employment climbed by 9,000 jobs, up from 2,000 in February.
This report comes ahead of the government’s data on non-farm payrolls due Friday.
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