GO
Loading...

US private sector added 191,000 jobs in March, fewer than hoped: ADP

A service technician grinds temporary spot welds while working on an exhaust manifold for a John Deere tractor at Klein Equipment, a John Deere dealership, in Galesburg, Illinois.
Daniel Acker | Bloomberg | Getty Images
A service technician grinds temporary spot welds while working on an exhaust manifold for a John Deere tractor at Klein Equipment, a John Deere dealership, in Galesburg, Illinois.

The U.S. economy created nearly 200,000 new private-sector jobs last month, a closely watched economic indicator reported on Wednesday, feeding hopes about the economic recovery and a thaw in labor markets.

The ADP National Employment report said total private payrolls jumped by 191,000 in March, but sharply revised upward February's figure, to 178,000 from 139,000. Analysts in a consensus estimate had expected a gain of 195,000 jobs.

Small business created 72,000 total jobs, ADP said, while medium-sized firms generated 52,000. Large businesses created 67,000 new positions during the month.

The data heightened Wall Street's expectations over Friday's non-farm payrolls report.

"It was a nice spring rebound and we had an upward revision for February," said Yelena Shulyatyeva, an economist with BNP Paribas in New York.

By CNBC. Reuters contributed to this report.

Contact Economy

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More