Economic Buzz: US private sector employment beats expectations in April
Most of the hiring growth came from service-related industries, which added 94,000 jobs during the month. Education and health services led the gains with 61,000 new positions, marking the sector?s strongest increase since October last year. Trade, transportation and utilities also rebounded, adding 25,000 jobs after losses in the previous two months. However, professional and business services continued to struggle, losing 8,000 jobs.
Goods-producing industries added 15,000 jobs, slower than March?s 33,000 increase. Construction hiring eased, while manufacturing posted its first monthly job gain since March 2024.
Small businesses remained the main driver of employment growth, adding 65,000 jobs. Large firms added 42,000 jobs, while medium-sized companies saw little change.
Annual wage growth remained steady, with job changers seeing 6.6% growth and job stayers recording 4.4%.
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