US private payrolls beat expectations in March

Despite political uncertainty and downbeat consumers, March topline number was good for economy and employers of all sizes, says ADP Research Institute chief economist

By Mucahithan Avcioglu

ISTANBUL (AA) - US private payrolls rose by 155,000 in March, well above market forecasts, according to a report released Wednesday by the ADP Research Institute.

Markets had expected the figure to show a rise of 118,000 in March, following an upwardly revised 84,000 jump in February.

"Despite policy uncertainty and downbeat consumers, the bottom line is this: The March topline number was a good one for the economy and employers of all sizes, if not necessarily all sectors," said Nela Richardson, chief economist at ADP.

The report said manufacturing delivered stronger-than-average job gains for the second straight month.

On the other hand, construction hiring slowed and natural resources and trade, transportation, and utilities lost jobs.

Professional and business services posted the highest gain by adding 57,000 jobs, followed by financial activities with 38,000.

They were followed by manufacturing, which added 21,000 jobs, leisure and hospitality with 17,000 jobs, and education and health services with 12,000.

Meanwhile, trade, transportation, and utilities saw the biggest job losses with 6,000, followed by natural resources and mining with 3,000 losses.

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