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US Businesses Added Solid 177000 Jobs in April

US Businesses Added Solid 177000 Jobs in April

"If anything, the trend appears to be up, not down", High Frequency Economics Chief U.S. Economist Jim O'Sullivan wrote in a research note.Last week, the government said gross domestic product increased 0.7 percent in the first quarter, the weakest pace in three years.Payrolls processor ADP said on Wednesday private employers added 177,000 jobs last month.

"Wage growth is picking up, which is important for consumer spending and the economy picking up and making sure the expansion continues beyond its eighth birthday, which is in June", Zandi said during a conference call Wednesday with reporters. This was slightly above the 175K expected by analysts, although the March numbers were revised downward by 8K to 255K. That contrasted with the Bureau of Labor Statistics' jobs report, which showed the economy added 98,000 jobs.

ADP compiles its monthly small business report from data provided by its customers with one to 49 employees. It often diverges from official data.

The ADP report is based on an analysis of the company's payroll data. Among goods-producing industries, manufacturing added 11,000 positions. The leisure and hospitality industries - primarily bars and restaurants - added 35,000.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 175,000 jobs, with estimates ranging from 140,000 to 236,000.

Cowboys Select Taco Charlton in 2017 NFL Draft, Twitter Can't Control Itself
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Poland supports India's bid for NSG membership, UNSC seat: VP Ansari
She also informed that Armenia has welcomed Indian cinema makers to choose Armenia as their destination to shoot. According to Ansari, in recent decades, India and Poland have been able to build strong economic relationships.

Trump tweets don't help: 1st Twitter revenue drop since IPO
Net loss narrowed to $61.6m, or 9c a share, in the first quarter ended March 31, from $79.7m, or 12c a share, a year earlier. Trump's tweets generate headlines on a daily - if not hourly - basis, ensuring Twitter is constantly in the news cycle.

"The softness in construction is continued payback from outsized growth during the mild winter", he said.

Job growth slowed in April due to a pullback in construction and retail jobs.

"Brick-and-mortar retailers cut jobs in response to withering competition from online merchants". Economists polled by Reuters expect US private payroll employment likely grew by 185,000 jobs in April, up from 89,000 in March, while the jobless rate likely ticked up to 4.6 percent from the 4.5 percent in March.

He predicts the current unemployment rate of 4.5 percent will decline in the next two years to 4 percent.

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