Private sector job growth expanded in March at its fastest pace since July 2023, indicating continuing buoyance in the U.S. labor market, payrolls processing firm ADP reported Wednesday.
Those switching jobs saw gains of 10%, also higher than in previous months.
ADP, whose survey is based on payroll data analysis of more than 25 million workers, does not track government jobs.
The ADP estimate serves as a precursor to the Labor Department's nonfarm payrolls survey, set to be released Friday, though the numbers often diverge sharply.
The department's Bureau of Labor Statistics reported job growth of 275,000 in February, or 120,000 more than even ADP's revised figure.
Persons:
Dow Jones, Nela Richardson
Organizations:
Companies, Labor, department's Bureau of Labor Statistics, Federal Reserve
Locations:
U.S