America's private sector added 455,000 jobs in March, the showed Wednesday.
That was slightly better than economists had expected but fell short of the February report, which was revised higher. It was also the weakest monthly gain in private sector jobs since August. This relative slowdown is to be expected as the labor market moves towards full employment.
That said, there's still a lot of work to be done in America's job market.
Job openings are still near record highs and many workers are quitting their jobs for better opportunities. Still, the hiring rate pales in comparison to the millions of available jobs.
"So we're looking for those numbers to get closer together," ADP chief economist Nela Richardson told reporters on a call following the report's release.
March job gains were consistent across all sizes of businesses, though large companies led gains.
"This is a competitive environment for talent. We still have a reduced overall workforce. Larger firms with larger budgets are able to compete in the local market a little easier," Richardson said.
Job additions were also persistent across most sectors. Information technology was the only sector flat on the month, neither adding nor losing any positions. Leisure and hospitality led the job gains once again, adding 161,000 positions.
The private sector jobs tally comes ahead of the government's official assessment of the employment situation that is due Friday. The two reports are not correlated.
This is a developing story. It will be updated
The-CNN-Wire
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