Led by small businesses, U.S. companies hired 191,000 new employees in March, according to payroll processing firm ADP. The company’s private jobs report fell mostly in line with the expectations of analysts who generally see labor conditions improving this spring. “The job market is coming out from its deep winter slumber,” said Mark Zandi, chief economist of Moody’s Analytics, which helps produce ADP’s report. “Even better numbers are likely in coming months as the weather warms.”
Professional and business services firms added 53,000 jobs in March, while the trade, transportation and utilities sector increased ranks by 36,000, ADP said. Construction companies, which are watched closely as a gauge for overall economic expansion, upped their payrolls by 20,000 last month. Small businesses added 72,000 jobs, large companies expanded by 67,000 positions and mid-size firms hired 52,000 new workers, data showed.
ADP, which bases its report on data from businesses with a total of 21 million workers, also revised upward its February job gains. The company now claims U.S. businesses added 178,000 positions in February, raising its prior figure by 39,000.