Private sector adds 184,000 jobs in March

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Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 3 April 2024

⏱️ 1 minutes

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Summary

Stocks close mixed; leisure and hospitality sector adds most jobs; service sector expands at slower pace; Powell says the Fed remains on track for rate cuts.

Transcript

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0:00.0	This is the Marketplace Minute. I'm Justin Ho. Stocks for mixed on Wednesday. The Dow
0:07.8	fell a tenth of a percent, the S&P rose a tenth of a percent, and the NASDAQ gained a quarter of a percent.
0:14.0	The private sector added 184,000 jobs in March,
0:18.0	according to the payroll processing company ADP.
0:21.0	The leisure and hospitality sector added the most jobs, followed by construction and
0:25.3	trade, transportation and utilities.
0:28.0	ADP says average pay was up more than 5% over the last year.
0:32.3	We'll get the government's official employment tally on Friday.
0:35.9	The services sector expanded in March at a slower pace than in February, according to the
0:40.0	Institute for Supply Management, but employment in the sector are contracted.
0:45.0	And Federal Reserve Chair Jay Powell says he still thinks the Central Bank will cut interest
0:48.9	rates this year.
0:50.3	Even though inflation has picked up a bit, Powell thinks the economy and inflation are still headed in the right direction.
0:56.0	I'm Justin Ho, with a marketplace minute.

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