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MNI BRIEF: US Labor Market Data Heating Up Again - ADP

(MNI) WASHINGTON

Friday's jobs report will likely show hiring and pay growth reaccelerating this year compared to the end of 2023.

Friday's U.S. jobs report is likely to corroborate ADP employment data showing hiring and pay growth is heating up again this year after slowing in the second half of last year, ADP chief economist Nela Richardson said Wednesday after the payroll service provider reported private employers added a stronger-than-expected 192,000 jobs in April and upward revisions to previous months.

Leisure and hospitality took a step back late last year but added 56,000 jobs in April to boost service sector hiring to 145,000. Overall hiring was broad based with large establishments looking strongest, Richardson said.

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Friday's U.S. jobs report is likely to corroborate ADP employment data showing hiring and pay growth is heating up again this year after slowing in the second half of last year, ADP chief economist Nela Richardson said Wednesday after the payroll service provider reported private employers added a stronger-than-expected 192,000 jobs in April and upward revisions to previous months.

Leisure and hospitality took a step back late last year but added 56,000 jobs in April to boost service sector hiring to 145,000. Overall hiring was broad based with large establishments looking strongest, Richardson said.

Keep reading...Show less