Lates News

ADP reported on Wednesday that the company significantly slowed down hiring in April to respond to the potential impact of President Trump's tariffs on U.S. trade partners. The private sector added only 62,000 jobs that month, the smallest increase since July 2024. The decrease was due to increased uncertainty surrounding the extent of tariff implementation, hiring plans, and economic conditions. Wage growth also slowed for those who did not change jobs, with a year-on-year increase of 4.5%, which was 0.1 percentage points lower than in March. However, the percentage of people changing jobs increased to 6.9%, up 0.2 percentage points. From an industry perspective, the leisure and hospitality sector saw the largest increase, adding 27,000 jobs. Other industries that experienced growth included trade, transportation, and utilities (21,000), financial activities (20,000), and construction (16,000). Education and health services positions decreased by 23,000, while information services positions decreased by 8,000.