Jobs Surge in March by 241K

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. ADP jobs

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.

Mark Zandi, chief economist of Moody’s Analytics, said, “The job market is rip-roaring. Monthly job growth remains firmly over 200,000, double the pace of labor force growth. The tight labor market continues to tighten.”
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