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Private hiring slowed in April out of fear of tariff impacts. 'Unease is the word of the day,' ADP chief economist says

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These job gains were even lower than economists had expected.
In April, U.S. private sector hiring slowed down as companies added 275,000 jobs, a decrease from the revised figure of 277,000 jobs added in March, according to the ADP National Employment Report. This slowdown was attributed to fears of escalating tariffs and a potential trade war with China, causing businesses to become more cautious. The report also highlighted that wage growth for workers who stayed in their jobs slowed to 4.1% year-over-year, down from 4.5% in March, while those who changed jobs saw a 7.7% increase in pay. The construction industry saw significant job growth, adding 55,000 jobs, while the manufacturing sector added 4,000 jobs, reflecting the impact of tariff concerns.

Read the Full Fortune Article at:
[ https://fortune.com/article/private-sector-hiring-payrolls-slowed-tariff-fears-adp-april/ ]