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Private sector job growth in the US remained moderate in March, with companies adding 62,000 jobs, according to the ADP National Employment Report. Wages for employees who stayed in their jobs increased by 4.5% compared to a year ago, showing stable income growth. The education and health services sector led hiring, adding 58,000 jobs, followed by construction with 30,000 new positions. The information sector also recorded gains, with 16,000 jobs added during the month. However, some industries saw declines. Trade, transportation, and utilities lost 58,000 jobs, while manufacturing employment dropped by 11,000, highlighting uneven hiring trends across sectors. Regionally, most job growth was concentrated in the South, which added 101,000 jobs. The West also saw a smaller increase. In contrast, the Northeast and Midwest reported job losses, partially offsetting overall gains. Small businesses were the main drivers of employment growth, adding 85,000 jobs. Meanwhile, mid-sized and large companies reduced their workforce slightly. For workers changing jobs, wage growth was stronger, rising 6.6% year over year, indicating continued demand for skilled talent despite mixed hiring trends. Powered by Commodity Insights
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