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Private Sector Job Growth Marks Seven-Month High In March

May 5, 2021 by Forex Winner Leave a Comment

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

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