U.S. private payrolls increased steadily in March, the ADP’s national employment report showed on Wednesday.
Private employment rose by 62,000 jobs last month after an upwardly revised 66,000 gain in February. Economists polled by Reuters had forecast private employment rising by 40,000 jobs after a previously reported 63,000 increase in February.
The ADP report is jointly developed with the Stanford Digital Economy Lab, and was published ahead of the Bureau of Labor Statistics’ more comprehensive and closely watched employment report for March on Friday. ADP has been a poor predictor of the BLS’ private payrolls estimate.
Nonfarm payrolls likely rebounded by 60,000 after decreasing 92,000 in February, a Reuters survey of economists predicted, as a strike by healthcare workers ended and temperatures warmed up.
Private payrolls are forecast to have increased by 70,000 after slumping 86,000 in the prior month. The unemployment rate is expected to have held steady at 4.4%.
(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)
