Another Strong Jobs Report as Companies Hire 455,000 in March, Beating Expectations A year after the American Rescue Plan, the report from payroll processing firm ADP shows small businesses adding 90,000 jobs, as total first-quarter jobs growth hits 1.45 million
By Main Street Sentinel Staff
Companies added 455,000 jobs in March, indicating that hiring remains strong, payroll processing firm ADP reported Wednesday.
Private payrolls grew by 455,000 for the month, ADP said, beating the Dow Jones estimate of 450,000. March’s total job growth was just a bit below the 486,000 jobs added in February, bringing the payroll processing firm’s first-quarter jobs count to 1.45 million.
According to the March report, jobs increased across every sector of the economy, with leisure and hospitality adding 161,000, while education and health services contributed 72,000 and professional and business services saw 61,000 new jobs.
March also saw robust growth for small businesses, which added 90,000 jobs between February and March. It’s a positive sign just over a year after President Joe Biden’s American Rescue Plan set out to provide relief for America’s 30 million small business owners.
Nationwide data shows that Americans started 5.4 small businesses over the course of last year, a 68 percent increase from the pre-pandemic average of 3.2 million per year.
Another March jobs report from the Bureau of Labor Statistics is expected to show the unemployment rate contracted further in March, to 3.7 percent.