ADP said the private sector added 179k jobs in April, almost 20k less than expected and compares with 207k in March, revised up by 6k. As has been seen and typically the case, most of the jobs were created by small and medium sized businesses both in the goods producing sector and services. Manufacturing in particular created 25k jobs and certainly has been a pleasant surprise for the US economy as it’s the 7th month in a row of gains. Today’s job gains bring the 6 month average to 192k favorably compared to the average of 50k in the 6 months priors. While a definite positive, the pace remains below where it should considering the amount of jobs lost in the recession and the ever growing cost of living for many. Friday’s private sector payroll gain is expected to be 200k.
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