Las Vegas Review-Journal

Survey: Solid hiring by businesses in March

- By Christophe­r Rugaber The Associated Press

WASHINGTON — U.S. companies hired 241,000 new workers in March, a private survey found, a solid total that suggests the already-low unemployme­nt rate might be headed lower in the coming months.

Payroll processor ADP said Wednesday that the gains were strong across different industries, with constructi­on, manufactur­ing and profession­al services such as accounting showing healthy hiring increases.

The figures come two days before the government releases its monthly employment figures. Economists forecast that Friday’s official report will show employers added 185,000 jobs, a smaller but still solid figure, according to a survey by data provider Factset.

ADP compiles hiring data from millions of companies that are clients of its payroll services. Its figures often diverge from the government’s report.

Mark Zandi, chief economist at Moody’s Analytics, which prepares the ADP report, cautioned that the actual job count in the government’s report Friday might be lower than ADP’S because the government’s figures are more sensitive to weather. Several Northeaste­rn cities were hit with snowstorms last month, which might have restrained hiring in constructi­on and other industries.

Still, the figures suggest that the recent run of healthy job gains might have continued into March. Employers nationwide have added an average of 242,000 jobs a month in the past three months. Hiring at that pace indicates that businesses anticipate robust consumer and business spending.

Zandi expects hiring will remain strong enough over the next 12 months to reduce the unemployme­nt rate, already at a 17-year low of

4.1 percent, to as low as 3.5 percent.

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