- Prior was +104K (revised to +106K)
- Goods producing +13K
- Service providing +42K
- Trade/transportation/utilities -17,000
- Leisure/hospitality 50,000
- Median pay for job stayers +4.4% vs 4.4% prior
- Median pay for job changers +7.1% vs 7.0% prior
This isn't a great reading but it's not like jobs are falling off a cliff. There are some real nerves around the jobs picture at the moment and this might soothe them.
“The year started with strong job growth, but that momentum has been whipsawed by uncertainty,” said Nela Richardson, chief economist, ADP. “A variety of things could explain the hiring slowdown, including labor shortages, skittish consumers, and AI disruptions.”
