US companies boosted payrolls in April by the most in over a year, the latest evidence of stabilization in the labor market.
Private-sector payrolls rose 109,000 in April after a revised 61,000 advance in the prior month, according to ADP Research data out Wednesday. The median estimate in a Bloomberg survey of economists called for a 120,000 increase.
More than half of the hiring advance was due to health services and education. Trade, transportation and utilities payrolls also increased. Construction employment grew, which may reflect the building of data centers that are at the heart of massive investment in artificial intelligence.
The figures showcase a labor market that is finding its footing after an especially harsh year for hiring. Some employers may be more at ease adding to headcount now that there’s more clarity around tariff, immigration and other fiscal policies. Moreover, layoffs remain low across the economy.
The report suggests the “labor market continued positive momentum in April after a solid March,” Alex Pelle, an economist at Mizuho Securities USA, said in a note.
Employment growth was fueled by businesses with fewer than 20 employees and those with 500 or more. Hiring was strong in the West and South.
Read the article.