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U.S. labor market finishes Q1 on a strong note

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The nation’s private sector employment rose by nearly 270,000 jobs between February and March, finishing the first quarter on a high note, according to human resources and payroll company ADP.

The Roseland-based firm said in its monthly National Employment Report for March 2017 that total U.S. nonfarm private employment grew by 263,000 jobs from the previous month.

"Job growth is off to a strong start in 2017. The gains are broad based but most notable in the goods producing side of the economy including construction, manufacturing and mining,” Mark Zandi, chief economist of Moody’s Analytics, said.

Small-sized businesses with fewer than 50 workers led the way, adding 118,000 new workers. Medium businesses with 50 to 499 employees added 100,000 jobs, while large businesses of 500 or more employees added 45,000.

The services sector added 181,000 new positions for the month, while the goods producing sector gained 82,000.

Among industries, professional and business services gained 57,000 new jobs, while leisure and hospitality gained 55,000 positions. Trade, transportation and utilities added 34,000 jobs, while financial activities added 25,000 workers. The sectors saw a losses were information, which lost 10,000 workers, and education, which lost 32,000 jobs.

"The U.S. labor market finished the first quarter on a strong note," Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said. "Consumer dependent industries including healthcare, leisure and hospitality, and trade had strong growth during the month."

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Emily Bader

Emily Bader

Emily Bader is the Web Editor and Social Media Coordinator at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com.

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