Private businesses added 158,000 jobs in March in the US
According to the latest data released, the private sector employers in the US added a total of 158,000 jobs during the month of March.
The data released by Automatic Data Processing Inc, which was released on Wednesday, indicated that the employment growth in the private sector slowed during the month of March. A survey of economists by MarketWatch had predicted 215,000 private-payroll jobs in March. Meanwhile, ADP also revised private-payroll growth to 237,000 for the month of February.
The U. S. Department of Labor's jobs estimate will be released Friday and will include information on job creation in both private as well as the public sector in the world's biggest economy. Economists expected the government report to record 195,000 growth in March compared to 236,000 in February. They expect the unemployment rate in the country to remain at 7.7 per cent for the month of March.
Recent job creation data has shown that the job market in eth US is improving but experts say that the federal spending cuts would affect the job market. There are three million lesser jobs in the country compared to pre-recession times. The strengthening jobs market would boost the growth in the American economy by increasing the spending power of the people.