ADP Reports Private Sector Employment Increased by 517,000 Jobs in March

According to the March ADP® National Employment Report™, nonfarm private sector employment private sector employment increased by 517,000 jobs from February to March. The ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally adjusted basis. In prepared remarks for the release of the report, Nela Richardson, chief economist, ADP said, “We saw marked improvement in March’s labor market data, reporting the strongest gain since September 2020. Job growth in the service sector significantly outpaced its recent monthly average, led with notable increase by the leisure and hospitality industry. This sector has the most opportunity to improve as the economy continues to gradually reopen and the vaccine is made more widely available. We are continuing to keep a close watch on the hardest hit sectors, but the groundwork is being laid for a further boost in the monthly pace of hiring in the months ahead.”