U.S. private employers hired the fewest workers in two years in April, likely due to complications from persistent labor shortages, raising the possibility that overall job growth has slowed last month.
Private payrolls increased by 247,000 jobs in April, the smallest advance since April 2020, according to the ADP National Employment Report.
March data was revised up to show 479,000 jobs added instead of the 455,000 initially reported. Economists polled by Reuters forecast that private payrolls would rise by 395,000 jobs.
The report shows a widespread slowdown in hiring, with the lowest job gains in the leisure and hospitality industry since the end of 2020. Companies with fewer than 50 employees saw a decline in payrolls.
Private payrolls increased by 247,000 jobs last month, the smallest gain since April 2020. March data was revised up to show 479,000 jobs added instead of 455,000 initially reported. Economists polled by the Reuters agency forecast that private payrolls would increase by 395,000 jobs.
Government data this week showed a record 11.5 million job openings on the last day of March.