ADP: US private payrolls down by 27,000 in March
Hiring in the private sector in the United States fell by 27,000 in early March, to the lowest level since September 2017, albeit less than expected, according to the ADP National Employment Report released on Wednesday. However, the institute warned the data “does not fully reflect the most recent impact of COVID-19 on the employment situation, including unemployment claims reported on March 26, 2020.”
“It is important to note that the ADP National Employment Report is based on the total number of payroll records for employees who were active on a company’s payroll through the 12th of the month. This is the same time period the Bureau of Labor and Statistics uses for their survey,” vice president of the ADP Research Institute Ahu Yildirmaz stated.
Small businesses reduced 90,000 payrolls, while medium businesses hired 7,000 people. Large companies added 56,000 jobs.
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