Private employers added 145,000 jobs and annual pay jumped 6.9 percent in March, according to a monthly report from payroll processing firm ADP. That is down from 261,000 in February and below estimates of 210,000.
“Our March payroll data is one of several signals that the economy is slowing,” said Nela Richardson, chief economist, ADP. “Employers are pulling back from a year of strong hiring and pay growth, after a three-month plateau, is inching down.”
The report comes one day after a federal report showed job openings falling below 10 million for the first time in two years, when a historically tight labor market left employers struggling to fill positions.
Some of the biggest job gains were in resources and mining, which added 47,000 jobs, and trade, transportation, and utilities, which added 56,000 jobs. Professional and business services, meanwhile, shed 46,000 jobs, and financial services lost 51,000.
Annual pay growth for job stayers also fell from 7.2 percent to 6.9 percent, which remains historically high, while pay growth for job changers fell from 14.4 percent to 14.2 percent.
Ford Motor Co. is resuming construction on a Michigan electric vehicle battery plant that the company postponed two months ago during a strike by the United Auto Workers union.
The marketing slogan for Stanley Tumbler flask products is built for life and it looks like one video proves that to be true after a woman showed her burned-out car on TikTok along with her Tumbler cup, which was left undamaged.
Nvidia's stock closed at an all-time high Monday at above $504 a share, ahead of the company's latest quarterly earnings report which is due out later Tuesday.
The CEOs of three popular tech companies have been subpoenaed by the Senate Judiciary Committee, which ordered the heads of Discord, Snap and X to testify at a hearing on protecting children online.
'X' owner Elon Musk says he is suing watchdog group Media Matters after the group published an analysis writing that the social media company was placing advertisements from several brands next to anti-Semitic content.
