Posted 4/3/2024, 1:15:00 PM
U.S. Job Growth Accelerates in March with 184,000 New Hires Across Sectors
- Hiring by U.S. companies rose more than expected in March, adding 184,000 jobs according to ADP report
- Job growth was broad-based across sectors, with most gains in leisure & hospitality, construction, trade & transportation
- Pay growth accelerated in March, with annual wage gains reaching 10% for job switchers and 5.1% for job stayers
- The labor market has remained strong despite higher interest rates and cooling inflation
- The ADP report comes ahead of Friday's closely-watched official March jobs report from the Labor Department