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US Private Payrolls Rise By 184,000, More Than Estimates

03.04.2024 15:57

Market expectation for figure was to show increase of 148,000.

US private payrolls rose by 184,000 in March, more than market estimates, according to a report released Wednesday by a research institute.

The market expectation for the figure was to show an increase of 148,000 jobs.

The figure for February was an increase of 155,000.

"March was surprising not just for the pay gains, but the sectors that recorded them," said the ADP Research Institute in collaboration with Stanford Digital Economy Lab.

"The three biggest increases for job-changers were in construction, financial services, and manufacturing. Inflation has been cooling, but our data shows pay is heating up in both goods and services," she added.

Among businesses, small and mid-sized enterprises added 16,000 and 93,000 jobs, respectively, while large businesses experienced a gain of approximately 31,000.

The leisure and hospitality sector posted the highest gain, adding 87,000 jobs, followed by trade, transportation and utilities with an increase of 23,000. -

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