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Private payrolls rose by 109,000 in April, topping expectations, ADP says
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- The payrolls processing firm said companies added 109,000 jobs for the month, a step up from the 61,000 created in March and better than the Dow Jones consensus estimate for 84,000.
- Wages for those staying in their jobs rose 4.4% annually, down 0.1 percentage point.
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Private sector job creation was stronger than expected in April, providing more evidence of a stable labor market and less incentive for the Federal Reserve to lower interest rates amid persistently higher inflation, ADP reported Wednesday.
The payrolls processing firm said companies added 109,000 jobs for the month, a step up from the 61,000 created in March and better than the Dow Jones consensus estimate for 84,000. The March total was revised down by 1,000.
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