The number of jobs added in March in the United States as well as the increase in pay have started to decrease, according to a business report from ADP.
Private sector employment increased by 145,000 jobs in March, and annual pay was up 6.9 percent year over year, according to the March ADP National Employment Report.
In comparison, 261,000 jobs were added in February, and a 7.2 percent increase in annual pay was observed in the February ADP National Employment Report.
Business services provider ADP issued a press release about its findings based on data from its client companies.
Slowing job growth will be welcomed by Federal Reserve officials as they consider whether to pause the central bank’s fastest interest rate-hiking cycle since the 1980s….