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The US economy created many more jobs than expected in April, with the payroll in the services sector growing the most in two years, according to data released on Wednesday by ADP and Moody's Analytics. .
Payroll in the private sector increased by 275,000 last month, the largest increase in 28 years, when it rose by 284,000. Economists surveyed by Dow Jones forecast a growth of 177,000 private jobs.
Employment in the services sector increased by 223,000 in April, boosted by 59,000 jobs in professional services and business. Education and health services companies also created 54,000 jobs, while jobs in the recreation and hospitality sector increased by 53,000.
Jobs in the production of goods – construction, manufacturing and mining – increased by 52,000, mainly due to an increase of 49,000 construction jobs. The economy has added only 5,000 jobs in the manufacturing sector, while employment in the mining sector has decreased by 2,000.
Overall, medium – sized businesses, employing between 50 and 499 people, paved the way for job creation last month by adding 145,000 jobs. Jobs in small firms increased by 77,000, while large firms hired 53,000.
"The job market is holding up as companies are working hard to fill vacancies," said Mark Zandi, chief economist at Moody's Analytics, in a statement. "The economic slowdown at the beginning of the year has not had a significant impact on the sector.Employment gains in April overestimate the strength of the economy, but they plead for the expansion to continue. "
Wednesday's report came after the Commerce Department said last week that the economy had grown 3.2 percent in the first quarter on an annualized basis. It was the best start to the year since 2015. The official government report on jobs for April will be released on Friday.
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