Private-sector payrolls jumped 742,000 in the month of April, according to the ADP National Employment Report (ADP)
Gains were equally distributed across companies of all sizes
- Big businesses added 277,000 jobs, mid-size companies added 230,000, and small businesses added 235,000 to their payroll.
The service sector saw most of the job growth adding 636,000 jobs while goods-producing added 106,000.
- Leisure/hospitality lead the way adding 237,000 jobs followed by transportation (+155,000), and professional services were third-best adding 104,000.
This is obviously a good report, but economists were expecting a bit more. Economists surveyed by Dow Jones had expected a number above 800k.