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Economy in Brief

U.S. ADP Hiring Total Picks Up, Led by Services
by Tom Moeller  April 2, 2014

The ADP/Moody's National Employment Report reported a 191,000 rise (2.0% y/y) in nonfarm private sector jobs during March. Expectations were for a 189,000 increase in the Action Economics Forecast Survey. Last month's rise followed increases of 178,000 and 121,000 during February and January, revised from 139,000 and 127,000. During the last three months, job increases averaged 163,000, below the peak of 259,000 in February of 2012.

The ADP survey is based on ADP's business payroll transaction system covering 406,000 companies and roughly 23 million employees. The data are processed by Moody's Analytics Inc., then calibrated and aligned with the BLS data. Extensive information on the methodology is available here.

An improved 164,000 rise (2.0% y/y) in service-producing payrolls led last month's increase in jobs. Jobs in professional and business services increased 53,000 (2.9% y/y); transportation and utilities employment grew 36,000 (2.0% y/y) while financial activities headcount gained 5,000 (0.5% y/y). Goods-producing payrolls rose 28,000 (1.6% y/y). Construction payrolls increased 20,000 (3.8% y/y), the firmest monthly rise since November. Factory sector payrolls nudged up 5,000 (0.4% y/y).

Hiring amongst small businesses totaled 72,000 (2.1% y/y). Medium-sized firms' payrolls advanced 52,000 (1.5% y/y) while jobs at large-size companies rose 67,000 (2.6% y/y).

The ADP National Employment Report data are maintained in Haver's USECON database; historical figures date back to March 2001. The figures in this report cover jobs only in the private sector. The expectation figure is available in Haver's AS1REPNA database.

ADP/Moody's National Employment Report Mar Feb Jan Y/Y 2013 2012 2011
Nonfarm Private Payroll Employment (m/m chg, 000s) 191 178 121 2.0% 2.0% 2.3% 1.8%
 Small Payroll (1-49) 72 76 51 2.1 2.1 2.5 1.1
 Medium Payroll (1-49) 52 48 48 1.5 1.6 2.0 2.0
 Large Payroll (>500) 67 55 22 2.6 2.3 2.4 2.7
Goods-Producing 28 25 5 1.6 1.6 2.2 1.7
 Manufacturing 5 5 -11 0.4 0.6 1.6 1.9
Service-Producing 164 153 116 2.0 2.0 2.3 1.8
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