Private Sector Job Growth Marks Seven-Month High In March

The United States private sector added 742,000 jobs in March to mark the highest growth in the last seven months, the ADP reported.

• The latest figure marks the fourth consecutive month of job generation, and is the highest since the 821,000 jobs added in August 2020. 
• The service-providing sector drove the growth as it added 636,000 jobs as the economic activity resumed and more businesses resumed operations.
• The goods-producing sector added 106,000 jobs including 55,000 in manufacturing; 41,000 in construction; and 10,000 in natural resources and mining.
• Payrolls are still over 8 million jobs short of pre-COVID-19 levels, even as job gains totaled 1.3 million in the last two months. Only about 1 million jobs were added in the previous five months.
• Broken down by company size, large businesses had the highest growth in new jobs with 277,000; small businesses with 235,000; and medium businesses with 230,000.