LoginThe U.S. economy continued to add jobs in March of 2013, but at a slower pace than in January and February of the same year, according to the ADP National Employment Report (NER).
Overall, the nonfarm payroll added 158,000 new workers during the third month of 2013, down from January's revised total of 177,000 and February's 237,000.
"Job growth moderated in March. Construction employment gains paused as the rebuilding surge in the wake of super-storm Sandy ended. Anticipation of Health Care Reform may also be weighing on employment at companies with close to 50 employees. The job market continues to improve, but in fits and start," said Moody chief economist Mark Zandi.
The March NER numbers were the lowest since October of 2012. According to CNN, the lower-than-expected readings in the new figures released by ADP have caused some analysts to revise their predictions for official government figures that are to be released on April 5, 2013. The source further noted that some economists think the slight fall-off towards the end of the first quarter of 2013 was a blip and was not indicative of a reversal of course for the economy as a whole.
The new employment figures suggested expansion across most non-construction sectors, with large growth in professional services, utilities and financial activities.