Private-sector employment grew by more than 200,000 jobs in April, according to Roseland-based ADP, topping the benchmark for the sixth consecutive month.
The payroll and human resources company said its monthly ADP National Employment Report found that the number of jobs grew by 204,000 positions from March to April.
“Despite rising trade tensions, more volatile financial markets and poor weather, businesses are adding a robust more-than-200,000 jobs per month,” Mark Zandi, chief economist of ADP’s partner in the report, Moody’s Analytics, said in a prepared statement. “At this pace, unemployment will soon be in the threes, which is rarified and risky territory, as the economy threatens to overheat.”
Midsized companies of 50 to 499 employees led the way, adding 88,000 jobs. Small businesses of under 50 workers added 62,000 jobs, while large firms of 500 workers or more added 54,000 positions.
“The labor market continues to maintain a steady pace of strong job growth, with little sign of a slowdown,” Ahu Yildirmaz, and ADP vice president and co-head of the ADP Research Institute, said in a statement. “However, as the labor pool tightens, it will become increasingly difficult for employees to find skilled talent.”
Among the 10 major sectors surveyed by ADP, those in the services industries dominated, adding 160,000 jobs compared with 44,000 in the goods-producing sector. Professional and business services led the way, adding 58,000 jobs, while education and health services added 39,000 and leisure and hospitality added 36,000. Construction led the goods-producing sectors, at 27,000 additional jobs.
“Job gains in the high-skilled professional and business services industry accounted for … (the most) jobs added this month,” Yildirmaz said. “The construction industry, which also relies on skilled labor, continued its six-month trend of steady job gains, as well.”
Only the information sector lost workers, down 2,000 positions for the month.
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