Private-sector job growth slowed in April, according to this month's report from payroll processor ADP, which showed private payrolls adding 156,000 jobs last month. Prior to this morning's report, economists polled by Reuters were predicting gains ranging from 116,000 to 225,000, with an average prediction of 196,000. The report shows the weakest job gains in three years.
The ADP National Employment Report beat expectations again this month, reflecting the addition of 205,000 jobs to private payrolls from December to January, according to the payroll processor. Prior to the release of the report, economists polled by Reuters were predicting average gains of 195,000 jobs.