US ADP Report: Blockbuster jobs report in April

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

ADP number shows the US labor markets remains strong despite recent weakness.

There are two things to note in the headline that,

• ADP report indicates that economy remains strong and creating significant numbers of jobs.

• March payroll saw a revision, where the headline was revised up to 151,000 (from 129,000).

Key highlights –

• Non-farm private sector employment grew at 275,000 in April, the median expectation was for 180,000.
• The small business sector added 77,000 jobs, compared to 6,000 gain last month.
• Mid-sized companies added 145,000 jobs compared to last month’s 63,000 jobs.
• The large sector added just 53,000 compared to last month’s 60,000 jobs.
• Manufacturing sector payroll registered 5,000 jobs gain compared to 2,000 jobs lost last month.
• 52,000 jobs were added in the goods-producing sector, compared to last month’s 6,000 jobs loss.
• The construction sector added 49,000 jobs, compared to last month’s 6,000 jobs loss.
• The services sector remains the main job provider as payrolls added 223,000 people in April. March gain was 132,000.

The USD is up on the release. The dollar index is currently trading at 97.45, down 0.07 percent for the day so far.