US private sector job growth higher than expected: ADP
The Peninsula
Washington: Hiring in the US private sector cooled in April but job growth was still higher than anticipated, boosted by the services sector, payroll...
Washington: Hiring in the US private sector cooled in April but job growth was still higher than anticipated, boosted by the services sector, payroll firm ADP said Wednesday.
Companies added 192,000 jobs last month, down slightly from a revised 208,000 in the month before, the report said.
The labor market has shown resilience despite the US central bank's efforts to keep interest rates elevated and fight stubborn inflation.
While higher rates raise the borrowing costs for consumers and businesses -- and can weigh on employment -- the jobs market has held up with employers reluctant to let go of workers they initially struggled to find.
The strength of the job market has in turn helped to support consumer spending.
