Wednesday, May 2, 2012
A private survey shows U.S. businesses sharply reduced hiring in April, a troubling sign two days before the government reports on monthly job growth.
Payroll provider ADP says that businesses added 119,000 jobs last month, far lower than a revised total of 201,000 jobs in March.
The report covers hiring only in the private sector. And it has been known to deviate sharply from the government's figures, which will be released on Friday.
For example, the government said employers added just 120,000 jobs in March — much lower than ADP's estimate.