ADP report: US private sector employment increased by 204K in April
Private sector employment increased by 204,000 jobs from March to April, revealed the April ADP National Employment Report released this Wednesday.
Key comments:
Commenting on the report, Ahu Yildirmaz, vice president and co-head of the ADP Research Institute said, “The labor market continues to maintain a steady pace of strong job growth with little sign of a slowdown.”
“However, as the labor pool tightens it will become increasingly difficult for employers to find skilled talent. Job gains in the highskilled professional and business services industry accounted for more than half of all jobs added this month. The construction industry, which also relies on skilled labor, continued its six month trend of steady job gains as well,” she further added.
Mark Zandi, chief economist of Moody’s Analytics, said, “Despite rising trade tensions, more volatile financial markets, and poor weather, businesses are adding a robust more than 200,000 jobs per month. At this pace, unemployment will soon be in the threes, which is rarified and risky territory, as the economy threatens to overheat.”
Author
Haresh Menghani
FXStreet
Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.
