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Marlin Steel CEO Drew Greenblatt evaluates the impact of President Donald Trump’s economic, tariff and trade agenda on ‘The Evening Edit.’
Companies in the private sector added 62,000 jobs in April, payroll processing firm ADP said Wednesday.
The figure is well below economists’ estimates of 115,000 jobs and down sharply from the prior month’s reading of 155,000.
“Unease is the word of the day. Employers are trying to reconcile policy and consumer uncertainty with a run of mostly positive economic data,” said ADP Nela Richardson, chief economist. “It can be difficult to make hiring decisions in such an environment.”
Leisure and hospitality added 27,000 positions, leading job creation in April. Trade, transportation and utilities added 21,000 jobs, financial activities added 20,000 and construction contributed 16,000.
Natural resources and mining added 6,000 jobs while manufacturing added 4,000.
On the negative side, education and health services lost 23,000 jobs during the month while information lost 8,00 positions. Professional and business services lost 2,000 jobs and other services decreased by 1,000.
The ADP data is released before the Labor Department’s nonfarm payrolls report, which is due on Friday morning and can differ notably. The government data is expected to show an increase of 130,000 positions, below the 228,000 reported in March.
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