This month’s ADP National Employment Report beat economists’ expectations and may bode well for Friday’s report from the Labor Department, which analysts hope will beat last month’s dismal tally of …
That is not a typo: last month, according to the Bureau of Labor Statistics, the economy added just 38,000 jobs to public- and private-sector, non-farm payrolls. That's considerably lower than economists estimated before this morning's release of the monthly The Employment Situation Summary; economists polled by Reuters predicted the addition of 162,000 jobs.
Hiring slowed in April, this morning's report from the Labor Department shows. Total nonfarm employment increased by 160,000 jobs, despite economists' earlier predictions that the report would reflect the addition of around 200,000 jobs to public- and private-sector payrolls. Unemployment remained at 5 percent.