Economy

Private payrolls increased by 247,000 in April, well below the estimate, ADP says

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A “We’re Hiring” sign hangs on the front door of a toy store in Greenvale, New York, on Sept. 30, 2021.

John Paraskevas/Newsday RM via Getty Images

Companies added far fewer jobs than expected in April as the struggle to find workers to fill open positions continued, payrolls processing firm ADP reported Wednesday.

Private payrolls increased by just 247,000 for the month, well below the 390,000 Dow Jones estimate. That was a big decline from March, which saw an upwardly revised gain of 479,000.

A drop-off in small business hiring was the primary culprit for the disappointment, as companies with fewer than 50 workers saw a decline of 120,000. The issue was particularly acute in those with…



Source cnbc.com

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