ADP Says Companies in U.S. Add Most Workers in Five Months
By Michelle Jamrisko Apr 30, 2014 8:40 AM ET
Companies added more workers in April than at any time in the previous five months, signaling further progress in the labor market, a private payrolls report showed.
The 220,000 increase in employment followed a revised 209,000 gain the prior month that was stronger than initially estimated, according to figures today from the Roseland, New Jersey-based ADP Research Institute. The median forecast of economists surveyed by Bloomberg called for an advance of 210,000 in April.
The additions to headcounts indicate companies are upbeat about the outlook for demand after harsh weather took a toll on spending at the start of the year. Employment growth that boosts paychecks would help drive bigger gains in the consumer purchases that account for almost 70 percent of the economy.
“The job market is gaining strength,” Mark Zandi, chief economist at Moody’s Analytics Inc., said in a statement. Moody’s produces the figures with ADP. “The recent pickup in job growth at mid-sized companies may signal better business confidence.”
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http://www.bloomberg.com/news/2014-04-30/adp-says-companies-in-u-s-added-220-000-workers-in-april.html