US businesses added 263,000 jobs in March

U.S. businesses added 263,000 jobs in March, which were bolstered by strong growth in manufacturing and construction.

Private-sector employment rose from 245,000 in February, which was the most since December 2014, and the fifth straight month of jobs growth over 200,000, according to the ADP national employment report released on Wednesday.

February’s total was revised down from 298,000.

The ADP report is well above the forecast for Friday’s government report, which was at 178,000.

{mosads}“Job growth is off to a strong start in 2017,” said Mark Zandi, chief economist of Moody’s Analytics, which collaborates with ADP on the report.

“The gains are broad based but most notable in the goods producing side of the economy including construction, manufacturing and mining,” he said.

Manufacturers added 30,000 jobs last month. The government’s February report showed that the sector, which has struggled against the headwinds a strong dollar and weak global economy, added 28,000 jobs in February.

Construction hired 49,000 workers in March following a strong February report from the Labor Department that reflected an increase of 58,000 jobs. 

Mining, which has been gradually improving after a more than two-year slump, added 4,000 jobs in March. 

Professional business services added 57,000, while restaurants and hotels hired 55,000 as the spring tourism season kicks off. 

Small businesses led the way last month, a good sign for continued labor market growth, adding 118,000 jobs.

“The U.S. labor market finished the first quarter on a strong note,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.

“Consumer dependent industries including healthcare, leisure and hospitality, and trade had strong growth during the month,” Yildirmaz said.