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.
Danny Trejo joined Cheddar to discuss his upcoming show "Mysteries Unearthed" coming to the History Channel and his most recent entrepreneurial ventures.
His Royal Highness Prince Emanuele Filiberto Di Savoia, Prince of Venice, joined Cheddar to discuss his new game that lets everyday folks feel like a royal.
GJ Hart, CEO of Red Robin, discusses the company's place in the "value wars," what's next for the restaurant and his thoughts on Shake Shack in the sky. Watch!
Chiza Vitta, Managing Director Global Analytics at S&P Global Ratings joined Cheddar to discuss S&P's recent Megatrend findings and other 2025 predictions.
Greg O'Hara CEO at Certares joined Cheddar to discuss his personal experience with Wellness Tourism and his predictions for the future of the growing industry.
Meghna Maharishi, Airlines Reporter at Skift, answers your biggest questions about what is happening since Spirit Airlines filed for bankruptcy. Watch!
