US private sector hiring cooled markedly last month, according to data from payroll firm ADP published Wednesday, as uncertainty around President Donald Trump's tariff rollout complicated hiring decisions.
Private sector employment grew by 62,000 in April, a sharp slowdown from a revised 147,000 in March, according to the ADP survey.
This was just over half of Briefing.com's market consensus of 128,000.
"Unease is the word of the day," ADP chief economist Nela Richardson said in a statement.
"Employers are trying to reconcile policy and consumer uncertainty with a run of mostly positive economic data," she said, adding: "It can be difficult to make hiring decisions in such an environment."
The data covers the period earlier this month when US President Donald Trump introduced sweeping tariffs against most countries, unleashing volatility in the financial markets and sending stock values plunging.
Education and health services, information, and professional and business services lost jobs in April, according to ADP. Hiring in other sectors was "moderate."
Median pay gains rose 4.5 percent for people who stayed in their jobs, and 6.9 percent for those who switched companies.
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This was just over half of Briefing.com's market consensus of 128,000.
"Unease is the word of the day," ADP chief economist Nela Richardson said in a statement.
"Employers are trying to reconcile policy and consumer uncertainty with a run of mostly positive economic data," she said, adding: "It can be difficult to make hiring decisions in such an environment."
The data covers the period earlier this month when US President Donald Trump introduced sweeping tariffs against most countries, unleashing volatility in the financial markets and sending stock values plunging.
Education and health services, information, and professional and business services lost jobs in April, according to ADP. Hiring in other sectors was "moderate."
Median pay gains rose 4.5 percent for people who stayed in their jobs, and 6.9 percent for those who switched companies.
da/aha
