ADP: Private Sector Employment Increases by 145,000 Jobs in March; Annual Pay Up 6.9%

(Courtesy ADP, Roseland, N.J.)

Private sector employment increased by 145,000 jobs in March and annual pay was up 6.9 percent year-over-year, the March ADP National Employment Report said.

ADP, a payroll and human resources firm based in Roseland, N.J., analyzes more than 25 million U.S. employees to provide a representative picture of the labor market.

“Our March payroll data is one of several signals that the economy is slowing,” said Nela Richardson, Chief Economist with ADP. “Employers are pulling back from a year of strong hiring and pay growth, after a three-month plateau, is inching down.”

The report said by industry sector, goods-producing employers added 70,000 jobs, while service-providing employers added 75,000 jobs. By company size, small employers (1-49 employees) added 101,000 jobs; medium employers (50-499 employees) added 33,000 jobs and large employers added 10,000 jobs.