Businesses in the United States added 263,000 jobs last month, according to figures released Wednesday by payroll processor ADP, a possible harbinger of a third straight month of strong hiring in the government’s closely-watched employment report later this week.
Economists surveyed by Bloomberg expected ADP to report 185,000 new private-sector jobs in March, and also expect the U.S. Labor Department to tally gains of 175,000 in the public and private sectors, when it reports Friday.
ADP tries to foreshadow the federal report but often varies from it noticeably. In February, ADP recorded 298,000 payroll gains among businesses while Washington reported 227,000, and 235,000 total additions, including government hiring.
Generally, the 200,000-plus monthly job gains so far this year have soundly surpassed the estimates of economists who figured the low, 4.7% unemployment rate would slow hiring by providing employers with fewer available workers.
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