US ADP Report: Another blockbuster

Today ADP employment numbers were released from US for the month of March.

ADP number shows the US labor markets remains strong.

There are two things to note in the headline that,

• All reports strong so far this year.

• February payroll got a revision. It has now revised to 245,000 (down from 298,000).
   

Key highlights –

• Non-farm private sector employment grew at 263,000 in March, median expectation was for 187,000.
• Small business sector hiring at 118,000, compared to 104,000 last month.
• Employment in franchise increased to 13,900 compared to last month’s 17,100.
• Mid-sized companies added 100,000 jobs compared to last month’s 122,000 jobs.
• Large sector added just 45,000 compared to last month’s 72,000 jobs.
• Manufacturing sector payroll registered 30,000 jobs gains compared to 32,000 job gain last month.
• 82,000 jobs were gained in goods-producing sector, compared to last month’s 106,000 jobs gains.
• Construction sector saw 49,000 jobs gains, compared to last month’s 66,000 jobs gain.
• Services sector employment remains robust as payroll added 181,000 people in March. February gains were 193,000.

The dollar index is currently trading at 100.46, down by 0.3% for the day so far.