ADP : Slowdown in U.S. Employment Growth

Recent hiring has slowed down, according to a report released Wednesday on private employment in April.

Private-sector employment increased 119,000 on the month, led by the service-providing sector and small and medium businesses, according to payrolls-processor Automatic Data Processing Inc. The April gain is down from monthly employment increases of about 200,000 averaged over the first quarter of 2012, according to ADP.

“This deceleration seems consistent with other incoming data,” said Joel Prakken, chairman of Macroeconomic Advisers, which produces the report for ADP. “There is some evidence that unusually warm weather boosted employment during the winter months, with a ‘payback’ now coming due.”

Prakken added ADP’s low private-sector growth pace means it’s unlikely that the national unemployment rate declined for the month, unless there was a substantial contraction in the labor force.

The ADP level for March was revised to a gain of 201,000 from a prior estimate of 209,000…

Source:

Read More @ Slowdown in recent hiring: ADP – Economic Report – MarketWatch.

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