Private Sector Adds 62,000 Jobs in March, Growth Led by Health Care and Construction

Private Sector Adds 62,000 Jobs in March, Growth Led by Health Care and Construction
1 min readEconomyBusinessMarkets

In Brief

Concentration of job gains in a few industries raises questions about the broader strength of the U.S. labor market.

Key Facts

  • Private sector hiring totaled 62,000 jobs in March, according to ADP.
  • Health care and construction sectors provided nearly all of the employment growth.
  • Labor-market growth was concentrated in a limited number of industries.
  • Concerns remain about the overall U.S. job market despite solid hiring figures.
  • Further impact from an oil shock on employment is being monitored.

What Happened

Private sector employment in the U.S. grew by 62,000 jobs in March, with most gains coming from health care and construction, according to ADP.

Why It Matters

While hiring exceeded expectations, the concentration of job growth in a few sectors has led to ongoing concerns about the resilience and breadth of the labor market.

What's Next

Analysts and policymakers are watching for potential effects from recent oil market developments and whether job growth will broaden to more industries.

Sources