ADP’s weekly employment report, which tracks payroll data in near real time, showed that U.S. private employers added an average of 10,000 jobs per week in the four weeks ending March 7. That’s only a slight increase from the prior report’s 9,000 weekly average.
What’s the bottom line? At that pace, private employers added roughly 40,000 jobs over the past month – a relatively weak showing. Combined with the Bureau of Labor Statistics’ February report showing a loss of 92,000 jobs, all eyes will be on the government’s March Jobs Report, due April 3, to see whether hiring picks up or continues to slow.