The ADP Payroll report released this morning shows that private companies in the US created 32,000 new jobs in April. This is the largest monthly increase since January 2008 and suggests that companies are preparing for an expected increase
“Private employment will add jobs, but slowly,” Aaron Smith, a senior economist at Moody’s Economy.com in West Chester, Pennsylvania, said before the report. “Private hiring needs to accelerate to prevent a substantial softening in the labor market when census hiring ends this summer.”
Source: Bloomberg
