Private payrolls in the United States increased in April by the largest amount since last July, according to an ADP/Moody’s Analytics report released Wednesday.
Private sector jobs increased by 275,000 in April while experts had only expected a rise of 177,000.
Services represented the largest increase with 223,000 while manufacturers, mining and construction added another 59,000 new jobs.
“The job market is holding firm, as businesses work hard to fill open positions,” Mark Zandi, chief economist at Moody’s Analytics, said in a statement. “The economic soft patch at the start of the year has not materially impacted hiring. April’s job gains overstate the economy’s strength, but they make the case that expansion continues on.”
The report comes just after the administration reported that the economy grew at 3.2% in the first quarter. Both the GDP report and today’s jobs numbers blew out analyst expectations and have largely killed the narrative that the Trump economy is short-lived and that a recession is near.
