ADP March US employment +155K vs +115K expected ...0

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ADP March US employment +155K vs +115K expected
Prior was +77K (revised to +84K)Goods producing +24K vs +42K priorService providing +132K vs +36K priorPay gains for job stayers 4.6% vs 4.7% priorPay growth for job changers 6.5% vs 6.7% prior

This is a nice bounce back from a poor reading in February. There isn't any evidence that there are layoffs due to policy uncertainty (at least outside of government) and with this rebound, there isn't much evidence there is a lack of hiring either. Companies are down beat so that could change but the mismatch between hard and soft data continues.

“Despite policy uncertainty and downbeat consumers, the bottom line is this: The March topline number was a good one for the economy and employers of all sizes, if not necessarily all sectors,” said Nela Richardson, chief economist, ADP.

    This article was written by Adam Button at www.forexlive.com.

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