U.S. private employers hired far fewer workers than expected in March, adding to signs that the labor market was cooling.
The ADP National Employment report on Wednesday followed on the heels of government data on Tuesday showing job openings falling below 10 million at the end of February for first time in nearly two years.
Private employment increased by 145,000 jobs last month, the ADP National Employment report showed on Wednesday. Data for February was revised higher to show 261,000 jobs added instead of 242,000 as previously reported. Economists polled by Reuters had forecast private employment increasing 200,000. Tuesday that there were 9.9 million job openings at the end of February. Still, there were 1.7 job openings for every unemployed worker in February, attesting to the labor market's tightness.
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