ADP: Private Payrolls Grew 263K in March 2017 vs. 185K Estimated

THE TRUMP JOB TRAIN CONTINUES ON …

According to ADP and Moody’s Analytics, companies added 263,000 jobs for the month of March 2017. That was far above the 185,000 expected from economists surveyed by Reuters and also better than the 245,000 reported for February. For the second month in a row of the Trump presidency, there has been a jobs boom and  its all about JOBS, JOBS, JOBS!!!

VIA CNBC:

The year’s fast start for job creation showed no signs of letting up in March as private payrolls saw another big boost, according to a report Wednesday.

Companies added 263,000 jobs for the month, ADP and Moody’s Analytics said. That was well above the 185,000 expected from economists surveyed by Reuters and also better than the 245,000 reported for February.

The February number was revised significantly lower, however, from the originally reported 298,000.

In addition to the big gain on the headline number, the month also continued a trend away from services-oriented positions dominating job creation. Goods-producing firms contributed 82,000 to the total, as construction led the way with 49,000 new jobs.

“Job growth is off to a strong start in 2017,” Mark Zandi, chief economist of Moody’s Analytics, said in a statement. “The gains are broad-based but most notable in the goods producing side of the economy including construction, manufacturing and mining.”

The report comes amid hopes that President Donald Trump can deliver on his pro-growth agenda of lower taxes, less regulation and more infrastructure spending. Economic data points have been mixed lately, with sentiment surveys outpacing actual hard data of activity.