By Ovunc Kutlu
ANKARA (AA) – US private payrolls increased 742,000 in April, the highest monthly increase since September, according to ADP Research Institute’s national employment report released on Wednesday.
While analysts expected an increase of 800,000, the figure in March was revised up from 517,000 to 565,000
Small and medium businesses added 235,000 and 230,000 jobs, respectively, in April, while large businesses added 277,000.
"The labor market continues an upward trend of acceleration and growth, posting the strongest reading since September 2020," ADP chief economist Nela Richardson said in the report.
"Service providers have the most to gain as the economy reopens, recovers and resumes normal activities and are leading job growth in April," she added.
Private payrolls, however, are still more than 8 million jobs short of pre-pandemic levels, and job gains have totaled 1.3 million in the last two months after adding only about 1 million jobs for the previous five months, according to Richardson.
The US government’s nonfarm payroll report will be released Friday and is expected to show an increase of 978,000 jobs in April. If realized, it would be higher than 916,000 jobs in March.
