US private payrolls rise by 192,000, more than estimates

US private payrolls rise by 192,000, more than estimates

Market expectation for figure was to show increase of 179,000

By Ovunc Kutlu

ISTANBUL (AA) - US private payrolls rose by 192,000 in April, more than market estimates, according to a report released Wednesday by a research institute.

The market expectation for the figure was to show an increase of 179,000 jobs.

The figure for March was revised up to a gain of 208,000 from an increase of 184,000.

"The average pace of hiring has accelerated over the last three months after slowing late last year, almost matching gains made in the first half of 2023," said the ADP Research Institute in collaboration with Stanford Digital Economy Lab. "Pay growth continues to slow."

Nela Richardson, the ADP chief economist, said hiring was "broad-based" in April, adding: "Only the information sector — telecommunications, media, and information technology — showed weakness, posting job losses and the smallest pace of pay gains since August 2021."

Among businesses, small and mid-sized enterprises added 38,000 and 62,000 jobs, respectively, while large businesses experienced a gain of approximately 98,000.

The leisure and hospitality sector posted the highest gain, adding 56,000 jobs, followed by construction industry with an increase of 35,000.

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