Recent Survey Shows that Hiring May Be Down for March

Ed Lynch Wednesday, May 1, 2013

Unfortunately, a recently released survey shows that companies in the United States added the smallest number of jobs in seven months. This may indicated that the higher taxes and spending cuts levied by the government might be weighing heavily on the economy.

ADP, a payroll processor, said that just 119,000 jobs were added last month by private employers. Hiring in March was much slower than originally thought. The survey showed that just 131,000 people were hired, which is considerably down from the initial estimate of 158,000.

Manufacturing actually cut 10,000 jobs, while construction firms added 15,000. This may be a good sign for the real estate market, simply because more people are being hired in construction than were previously thought. Hopefully, this trend will continue.

The report that was conducted by ADP came from payroll data. ADP tracks private employment each month. This report sometimes diverges from the comprehensive monthly jobs report released by the government, but it is still a forecast that should be taken into consideration.

In March, the government report said that employers added 88,000 jobs, which is much less than the figure from ADP. Economists have forecasted that the report from the government will show 160,000 jobs added in April. It will be interesting to see if their numbers are close. 

Edwardl@longislandyellowpages.com

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