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Economy in Brief

U.S. ADP Hiring Tally Is Strongest Since November
by Tom Moeller  April 30, 2014

ADP/Moody's National Employment Report reported a 220,000 rise (2.1% y/y) in nonfarm private sector jobs during April. Expectations were for a 200,000 gain in the Action Economics Forecast Survey. Last month's rise followed increases of 209,000 and 193,000 in March and February, revised from 191,000 and 178,000. During the last three months, job increases averaged 207,000, still 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.

A stronger 197,000 rise (2.1% y/y) in service-producing payrolls led last month's increase in jobs. Jobs in professional and business services increased 77,000 (3.2% y/y); transportation and utilities employment grew 35,000 (2.0% y/y) while financial activities headcount gained 8,000 (0.5% y/y). Goods-producing payrolls rose a steady 24,000 (1.7% y/y). Construction payrolls increased 19,000 (3.8% y/y). Factory sector payrolls gained a minimal 1,000 (0.5% y/y), the weakest rise since December.

Hiring amongst small businesses totaled 82,000 (2.1% y/y). Medium-sized firms' payrolls also advanced 82,000 (1.6% y/y) while jobs at large-size companies rose 57,000 (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 Apr Mar Feb Y/Y 2013 2012 2011
Nonfarm Private Payroll Employment (m/m chg, 000s) 220 209 193 2.1% 2.0% 2.3% 1.8%
 Small Payroll (1-49) 82 81 80 2.1 2.1 2.5 1.1
 Medium Payroll (50-499) 82 56 54 1.6 1.6 2.0 2.0
 Large Payroll (>500) 57 71 60 2.6 2.3 2.4 2.7
Goods-Producing 24 28 26 1.7 1.6 2.2 1.7
 Manufacturing 1 4 5 0.5 0.6 1.6 1.9
Service-Producing 197 181 167 2.1 2.0 2.3 1.8
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