Wall Street Journal (04/01/15) Kathleen Madigan
Companies hired at a tepid pace in March, according to Automatic Data Processing and Moody’s Analytics. Private payrolls rose by 189,000 jobs, which was far below expectations. Economists polled by the Wall Street Journal had forecast the addition of 225,000 new jobs for the month. The February number was upwardly revised to 214,000 from 212,000. “Job growth took a step back in March. The fallout from the collapse in oil prices and surge in value of the dollar is hitting the job market”, the report says.
Small businesses are adding the most jobs, according to ADP. Companies with between one and 49 employees added 108,000 new employees last month, while companies with between 50 and 499 employees added 62,000 employees. Big firms with 500 or more employees hired 19,000 employees. Manufacturing cut 1,000 jobs in March, while construction added 17,000 jobs and the service sector added 184,000 jobs.
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