Please ensure Javascript is enabled for purposes of website accessibility

March Employment Underwhelms

By Justin Loiseau - Apr 3, 2013 at 2:28PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Goods-producing employment added just 7,000 jobs, part of overall month-to-month gain of 158,000.

Nonfarm private employment increased by a seasonally adjusted 158,000 jobs for March, according to ADP's National Employment Report  (link opens in PDF) released today.

Human capital management company ADP partners with Moody's Analytics to produce this monthly report based on ADP payroll data representing 416,000 U.S. clients employing nearly 24 million workers in the U.S..

Source: Author, data from ADP. 

Although this month continues a three-year streak of improvements, month-to-month gains haven't been this low since October 2012. After February's revised 237,000 additional jobs, market analysts had expected a 205,000-job jump for March.

Moody's Analytics Chief Economist Mark Zandi said in a statement today: "Job growth moderated in March. Construction employment gains paused as the rebuilding surge in the wake of Superstorm Sandy ended. Anticipation of Health Care Reform may also be weighing on employment at companies with close to 50 employees. The job market continues to improve, but in fits and starts."

Goods-producing employment was the main culprit for March's mediocre results, adding just 7,000 jobs for the slowest growth rate in six months. Services managed a 151,000 increase in employment, boosted primarily by a 39,000 gain for professional/business services.


Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/26/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.