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Private employers added 201,000 jobs in March
|Contributor||Brandonius Maximus |
|Last Edited||Brandonius Maximus Mar 30, 2011 10:51am|
|News Date||Wednesday, March 30, 2011 06:50:00 PM UTC0:0|
|Description||NEW YORK — U.S. private employers added 201,000 jobs in March, while February's figure was revised down slightly, a report by a payrolls processor showed on Wednesday. |
The data was largely in line with expectations. Economists surveyed by Reuters had forecast the ADP Employer Services report would show a gain of 203,000 jobs. The report is jointly developed with Macroeconomic Advisers LLC.
February's figure was revised down to 208,000 from 217,000.
"Basically the number was very much in line with expectations and shows that the labor recovery continues at a reasonable pace," said David Katz, chief investment officer at Matrix Asset Advisors in New York.
"It looks like the U.S. economic recovery continues, and the improving labor market should be a buffer against weak areas like real estate."