The labor market is on the mend… again. Private-sector employment increased 191,000 in March, the best monthly comparison so far this year, according to the ADP Employment Report. That’s in line with the consensus forecast via economists, although the gain was sharply higher than The Capital Spectator’s median econometric prediction. There was also some good news in the revisions: February’s tepid 139,000 advance was revised up to a moderately better 178,000 in today’s ADP release. More importantly, the data continues to show that the year-over-year trend in private payrolls is advancing by nearly 2%. That’s an encouraging signal for thinking nothing much has changed for payrolls, namely, moderate growth prevails.
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