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Companies added 455,000 jobs in March, slightly more than expected, ADP says
ADP said private payrolls grew by 455,000 in March, slightly more than expected.
Leisure and hospitality led the job gains, adding 166,000 positions.
The release comes two days ahead of the government’s nonfarm payrolls report, which is expected to show growth of 490,000.
Companies added jobs at a solid pace in March, indicating that hiring is strong despite signs of a tightening labor market, payroll processing firm ADP reported Wednesday.
Private payrolls expanded by 455,000 for the month, the firm said, about in line with the Dow Jones estimate of 450,000 though it was the lowest since August 2021. The total was slightly below the upwardly revised 486,000 in February, and brought ADP’s first-quarter jobs count to 1.45 million.
The report comes two days before the more closely watched nonfarm payrolls report, with the Bureau of Labor Statistics expected to show jobs growth of 490,000 for the month, according to the Dow Jones consensus estimate. The ADP and BLS numbers can differ widely, as they did in February when the payrolls firm’s count was about 200,000 below the government’s official tally.
ADP’s report for March indicated that hiring was spread evenly around sectors, with leisure and hospitality adding 166,000 to lead the way. Education and health services contributed 72,000 while professional and business services was next with 61,000 new jobs.
On the goods-producing side, manufacturing led with 54,000 while construction added 15,000.
Service-providing companies added 377,000 jobs while goods producers made up the balance of about 79,000.
By size, job gains also were spread fairly evenly, with companies employing 50 to 499 workers up 188,000 and large companies adding 177,000. Small business, which saw a decline in February, reversed that and added 90,000 in March.
“Businesses are hiring, specifically among the service providers which had the most ground to make up due to early pandemic losses,” said Nela Richardson, chief economist at ADP. “However, a tight labor supply remains an obstacle for continued growth in consumer-facing industries.”
Indeed, in February there were a record 5 million more jobs than available workers, according to BLS data released Wednesday. Workers continue to leave their jobs in search of better opportunities, with 4.3 million more taking part in the so-called Great Resignation during the month.
Friday’s report is expected to show the unemployment rate contracted further, to 3.7%.
Federal Reserve officials are watching the jobs numbers closely as the central bank battles inflation at 40-year highs. Job growth has come with a sharp acceleration in wages, and the Fed is expected to raise interest rates at a brisk pace this year to combat rising prices.
Susan Collins will vote to confirm Ketanji Brown Jackson, becoming first GOP senator to back Biden’s Supreme Court pick
Republican Sen. Susan Collins of Maine will vote to confirm President Joe Biden’s Supreme Court nominee Ketanji Brown Jackson, she said in a statement Wednesday morning, the first GOP senator to do so.
“After reviewing Judge Ketanji Brown Jackson’s extensive record, watching much of her hearing testimony, and meeting with her twice in person, I have concluded that she possesses the experience, qualifications, and integrity to serve as an Associate Justice on the Supreme Court,” Collins said in her statement. “I will, therefore, vote to confirm her to this position.”
She first told The New York Times of her decision to support Jackson before releasing a statement. Jackson’s confirmation had been virtually assured following the announcement last week that moderate Democratic Sen. Joe Manchin of West Virginia would vote for her, but Collins’ support means her confirmation will be bipartisan.
Collins’ announcement comes a day after she met with Jackson for a second time and later told reporters she “provided clarification on some of the issues, so it was a useful meeting.” Pressed on what those topics were, Collins responded Tuesday, “I followed up on several of the issues that you would probably think that I would follow up on.”
Only three Republican senators voted in favor of Jackson in 2021 when the Senate confirmed her to fill a vacancy on a powerful DC-based appellate court: Collins as well as Lindsey Graham of South Carolina and Lisa Murkowski of Alaska.
Murkowski and Graham have not yet said where they stand on Jackson’s nomination. Graham told CNN he plans to announce his position on Jackson sometime this week.
GOP Sen. Mitt Romney also met with Jackson on Tuesday, but has not yet said whether he’ll support her after expressing an openness to vote in favor of her nomination to the Supreme Court.
... these Republican Senators are breaking away from Senate Minority leader Mitch McConnell's opposition to confirming KBJ's nomination all but guaranteeing President Biden's life long nominee.
I have a problem that only liberals can help me with. Please take this seriously.
This morning I woke up in a cold sweat. My body was trembling. I was scared thinking about which one was gonna kill me first.
a.) climate change
or
b.) covid
Also, I was reading uo on CRT and learned at all white folks are racist. Yes, even white liberals are racist. Did you guys know that you were racist?
And here we have one of the main problems with people from the right.
THEY ARE AFRAID OF EVERYTHING.
Try some meditation, or maybe some calming tea. Hopefully that will help. Or maybe you should just stop listening to the right wing "news" providers who feed you a constant diet of fear.
Only three Republican senators voted in favor of Jackson in 2021 when the Senate confirmed her to fill a vacancy on a powerful DC-based appellate court: Collins as well as Lindsey Graham of South Carolina and Lisa Murkowski of Alaska.
And here we have one of the main problems with people from the right.
THEY ARE AFRAID OF EVERYTHING.
Try some meditation, or maybe some calming tea. Hopefully that will help. Or maybe you should just stop listening to the right wing "news" providers who feed you a constant diet of fear.
So, we're not on the edge of destruction with climate change? Whew!!! What a relief. The liberal politicians have scared the heck out of me.
Adversity temporarily visits a strong man but stays with the weak for a lifetime.
Agreed. Tell your people (liberals) to stop trying to scare me by saying that world is coming to an end unless we pass climate change laws by a certain date.
Can you help a brotha out?
Adversity temporarily visits a strong man but stays with the weak for a lifetime.
And here we have one of the main problems with people from the right.
THEY ARE AFRAID OF EVERYTHING.
Try some meditation, or maybe some calming tea. Hopefully that will help. Or maybe you should just stop listening to the right wing "news" providers who feed you a constant diet of fear.
You have us confused with the people STILL donning masks.
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