From CNBC, May 6:
- Private companies added 109,000 jobs for the month, a step up from the 61,000 created in March and better than the Dow Jones consensus estimate for 84,000, ADP reported Wednesday.
- Education and health services again dominated, adding 61,000 jobs. Trade, transportation and utilities gained 25,000. Construction, another consistent leader in recent months, rose by 10,000.
- Though the headline number was better than expected, it’s broadly consistent with what Fed policymakers and economists have described as a low-hire, low-fire environment.
Private sector job creation was stronger than expected in April, providing more evidence of a stable labor market and less incentive for the Federal Reserve to lower interest rates amid persistently higher inflation, ADP reported Wednesday.
The payrolls processing firm said companies added 109,000 jobs for the month, a step up from the 61,000 created in March and better than the Dow Jones consensus estimate for 84,000. The March total was revised down by 1,000.
Wages for those staying in their jobs rose 4.4% annually, down 0.1 percentage point....
....MUCH MORE
