A private payrolls survey released released Wednesday by ARP may not bode well for the government’s Friday employment report.
U.S. businesses added 119,000 jobs in April on a seasonally adjusted basis, according to the National Employment Report. The estimated jobs gain from February to March was revised down slightly, from the initial estimate of 209,000 to a revised estimate of 201,000.
Small businesses (with up to 49 workers) and medium businesses (with between 50 to 499 employees) gained 58,000 and 57,000 jobs, respectively, while large businesses gained 4,000 jobs. It takes an estimated 125,000 news jobs a month just to keep up with population growth.
Employment in the private, goods-producing sector increased by 123,000 in April after rising 158,000 in March, while employment in the private, goods-producing sector lost 4,000 jobs last month. The manufacturing industry dropped 5,000 jobs, the first loss in this sector since September of last year.
“This month’s modest increase of 119,000 jobs appearas consistent with the first-quarter Gross Domestic Product growth of 2.2 percent,” Carlos Rodriguez, ADP president and CEO, said in a statement. “We hope future rates of job creation will be more aggressive and sustained.”
The April report reflects the 27th consecutive month of job increases, but the latest modest increase reflects a deceleration in the recent pace of hiring, analysts observe. Some attribute the boost in hiring last winter to the unseasonably warm weather.
The April National Employment Report follows several weeks of elevated first-time claims for unemployment benefits. But some analysts believe that the Friday government report will show an increase of about 168,000 jobs for last month. “Something doesn’t add up,” Steven Russolillo wrote in the Wall Street Journal, noting industry tabulations that in March, ADP’s report overshot the government’s report by 113,000 last December, undershot it by 87,000 in January, and overshot it by 88,000 in March.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.