by Calculated Risk on 4/03/2024 08:15:00 AM

From ADP: ADP National Employment Report: Private Sector Employment Increased by 184,000 Jobs in March; Annual Pay was Up 5.1%

Private sector employment increased by 184,000 jobs in March and annual pay was up 5.1 percent year-over-year, according to the March ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”). ...

“March was surprising not just for the pay gains, but the sectors that recorded them. The three biggest increases for job-changers were in construction, financial services, and manufacturing,” said Nela Richardson, chief economist, ADP. “Inflation has been cooling, but our data shows pay is heating up in both goods and services.”
emphasis added

This was above the consensus forecast of 155,000. The BLS report will be released Friday, and the consensus is for 200 thousand non-farm payroll jobs added in March.