The human capital management company partners with Moody's Analytics to produce this monthly report based on ADP payroll data representing 416,000 U.S. clients that employ nearly 24 million workers in the nation.
After the jobs number increased a revised 209,000 for March, analysts had expected April's numbers to add a nearly identifcal 210,000 jobs, leaving them pleasantly surprised by a 10,000-job "bonus."
Small businesses (1-49 workers) contributed the most, adding 82,000 employees to their April ranks. Medium-sized (50-499) companies fell just shy by adding 81,000 employees, while large (500+) companies increased their payrolls by a relatively smaller 57,000.
The services sector provided the primary push (+197,000) behind this month's increase, whiles goods-producing companies increased employment by just 24,000. Manufacturing managed a slight increase of 1,000 employees in April.
According to Moody's Analytics Chief Economist Mark Zandi, April's expectations beat may be a sign of a growing labor market:
The job market is gaining strength. After a tough winter employers are expanding payrolls across nearly all industries and company sizes. The recent pickup in job growth at mid-sized companies may signal better business confidence. Job market prospects are steadily improving.
Fool contributor Justin Loiseau has no position in any stocks mentioned. The Motley Fool recommends Automatic Data Processing. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.