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Private Sector Jobs Growth Decelerates to Eight-Month Low

May 4, 2022 by Forex Winner Leave a Comment

Private employment

Source: ADP

Private employment growth slipped to an eight-month low in April, driven by the decline recorded in small businesses. QQQ is down 0.88%, while SPY is down 0.26%.

  • Private sector employment grew by 247,000 in April, lower than the 479,000 in March and 619,000 in the same month last year.
  • The latest reading is the lowest increase in eight months since employment climbed by 277,000 in August 2021.
  • Broken down by company size, employment in small businesses fell by 120,000, while medium businesses increased by 46,000 and large firms by 321,000.
  • Goods-producing businesses increased by 46,000, including natural resources with 4,000; construction with 16,000; and manufacturing with 25,000.
  • Service-providing businesses increased by 202,000, led by leisure and hospitality with 77,000, and education and health services by 48,000.
  • Franchise employment for the month stood at 47,400.

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Filed Under: Forex News Tagged With: Employment, Private Sector Jobs, USA

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