Private sector employment increased by 241,000 jobs from February to March according to the March ADP National Employment Report. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total non-farm private employment each month on a seasonally-adjusted basis.
The ADP report showed gains of 31,000 in construction and 29,000 in manufacturing last month, and sees jobs increasing over the next few months.
This is good news to the real estate industry, as it provides the economic fuel necessary for new housing to be built, and the labor necessary for the construction.