Private employers added 62,000 jobs in March, blowing past the 40,000 gain economists had forecast, according to the ADP National Employment Report released Wednesday.
The better-than-expected result was driven by the smallest businesses in America. Establishments with fewer than 20 employees added a striking 112,000 jobs, powering small business hiring gains for a second consecutive month. The burst of micro-firm hiring more than offset cautious headcount management at larger companies.
“Overall hiring is steady, but job growth continues to favor certain industries, including health care,” said Dr. Nela Richardson, ADP’s chief economist.
Worker…
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