Private sector employers in the US added nearly 200,000 jobs in April, ADP said Wednesday.
The 192,000 headline print was stronger than expected.
Revisions added 45,000 to the prior two months’ readings, icing on the proverbial cake.
The three-month average for the main ADP series is now 192,000 (i.e., the same as April’s headline print), the highest since September.
The breadth of hiring in the release was comically uniform. In services, trade added 26,000 jobs, finance 16,000, professional services 22,000, education & health 26,000 and leisure and hospitality 56,000. On the goods side, construction added 35,000 and manufacturing 9,000. America also hired 3,000 new miners last month just in case there’s something worth digging up.
The same uniformity was observable across firm sizes. The smallest employers hired 39,000 people and the largest nearly 100,000. Every size in-between hired too with the exception of the 20-49 bucket, which shed a net 1,000 jobs.
“Hiring was broad-based in April,” ADP chief economist Nela Richardson remarked. There was one exception: Information tech, which shed 4,000 jobs and recorded the slowest rate of pay gains in nearly three years.
Speaking of pay growth, macro observers were keenly interested in an update on ADP’s pay insights data after a huge jump in wage gains for so-called “job changers” in March. That moderated in April, but job switchers still enjoyed a 9.3% YoY pay bump versus 5% for those who stayed in their positions.
The gap narrowed to a still very wide 4.3ppt. ADP’s series isn’t the final word on that dynamic, but it’s worth highlighting all the same.
Bottom line: The US labor market’s exhibiting ongoing strength, and wage growth’s robust.
To recycle familiar language: The pace of job gains is, if anything, re-accelerating. The rate hikes aren’t working. It might be time for the Fed to consider “radical” explanations as to why.



