April 9, 2012 4:10 am
The report, created by Automatic Data Processing, Inc. (ADP®), in partnership with Macroeconomic Advisers, LLC, is derived from actual payroll data and measures the change in total nonfarm private employment each month. Estimated gains for previous months were revised higher; the gain from December to January was revised up by 9,000 to 182,000, and the gain from January to February was revised up by 14,000 to 230,000.
According to the report, notable employment gains were seen in the following areas:
- Total employment: +209,000
- Small businesses:* +100,000
- Medium businesses:** +87,000
- Large businesses:*** +22,000
- Goods-producing sector: + 45,000
- Service-providing sector: +164,000
Employment in the private, goods-producing sector rose 45,000 in March. Manufacturing employment increased 23,000, while construction employment advanced 13,000 and the financial services sector added 8,000 jobs during that period.
"During the first quarter of this year, monthly gains in employment shown in The ADP National Employment Report averaged 207,000 jobs, compared to 156,000 per month over all of 2011," explains Carlos Rodriguez, president and CEO of ADP. "This is a positive development, and I would hope that job growth will be even more robust for the remainder of the year."
According to Joel Prakken, chairman of Macroeconomic Advisers, LLC, "Labor market conditions continue to improve at a moderate pace. Employment grew in all the major sectors of the economy tracked in the report, and across payrolls of all sizes. Today's data marks the twenty-sixth consecutive monthly gain in private employment as measured in the report.
* Small businesses represent payrolls with 1-49 employees
** Medium businesses represent payrolls with 50-499 employees
*** Large businesses represent payrolls with more than 499 employees
Published with permission from RISMedia.