Friday, February 23

Job Growth in the US Business Sector Increased Significantly

Employment in corporate America rose sharply in March compared to a month earlier. According to payslip processor ADP, 517,000 new jobs were added last month. That is the most substantial increase in six months.

 

The figure became less strong than expected because economists were expecting an average increase of 550,000 new jobs. In February, growth was revised upwards to 176,000 new jobs in companies in the United States. An increase of 117,000 jobs was previously reported here.

The improving job figures seem to indicate that the US labour market is recovering from the corona pandemic, aided by the vaccinations against the virus and the US government’s support measures against the crisis. Last week, it was announced that the US’s weekly benefit claims had fallen to the lowest level since March last year.

Particularly in the US services sector, including hospitality, tourism, and retail, jobs were significantly increased thanks to the economy’s gradual reopening. That sector had previously suffered a lot from the lockdowns because shops and restaurants had to close.

ADP’s data anticipates the monthly job report that the US government will release on Friday. This study also includes developments in the public sector.

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