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Report says U.S. added 8,000 jobs in March

April 02 2008

The United States added 8,000 private-sector jobs in March, on a seasonally adjusted basis, according to the national employment report released today by Automatic Data Processing Inc. (NYSE: ADP). The report also revised down its count of jobs lost in February to 18,000.

Weakness in employment in March was concentrated among larger firms in the goods-producing sector, according to the report. Employment in the goods-producing sector dropped by 77,000. In the service sector, on the other hand, the number of jobs rose by 85,000.

Employment in construction, a sector hit by the subprime mortgage crisis, fell by 22,000 in March, the 16th consecutive month of declines, according to the report. In financial services, another sector hit by the crunch, employment was flat.

The report is based on data from ADP derived from an anonymous subset of roughly 500,000 U.S. business clients.


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