Wednesday, April 30, 2008

ADP Employment Report

US employment in the private sector rose by 10,000 in April, according to the ADP employment report released Wednesday. The number was way above estimations, as analysts were expecting an 80,000 decline in both private and public sector payrolls. Subtracting the usual 20,000 in new government jobs, private sector employment was expected to be closer to a negative 100,000. To see a gain of 10,000 is tremendous.

According to the report, the service sector produced all of the jobs in April, adding 64,000 jobs. Employment in the goods-producing sector fell by 54,000, and manufacturing jobs declined by 26,000.

See Full Report.

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