ADP Reports 109,000 Private Jobs Added in April

Private companies added 109,000 jobs in April, exceeding the Dow Jones consensus estimate of 84,000, ADP reported Wednesday. The gain marked the highest private payroll increase since January 2025. March private payrolls were revised to 61,000 from an initial 62,000.

Education and health services led gains with 61,000 jobs added in April according to ADP. Trade, transportation and utilities added 25,000 while construction contributed 10,000. Financial activities gained 9,000 jobs, manufacturing added 2,000, and both leisure and hospitality and information services each rose by 4,000.

Professional and business services lost 8,000 jobs in April according to ADP. Companies with fewer than 50 employees added 65,000 positions while those with 500 or more workers added 42,000. The breakdown pointed to uneven hiring across company sizes.

"Small and large employers are hiring, but we're seeing softness in the middle," said Nela Richardson, ADP's chief economist. 1 percentage point from the prior month. The data painted a picture of steady but modest labor market momentum amid broader economic uncertainty.

U.S. nonfarm payrolls of 65,000. 3 percent. 8 percent year-over-year.

Individual bank forecasts for April nonfarm payrolls varied widely. Kalshi projected 74,000, Citi forecast minus 15,000, and Barclays estimated 0. SocGen projected 40,000 while Santander saw 45,000 and Deutsche Bank anticipated 50,000.

JPMorgan AM forecast 64,000 and BNP Paribas projected 65,000. Goldman Sachs estimated 75,000, BofA saw 80,000, and both HSBC and UBS projected 100,000. U.S.

Labor market. Fed's Miran said the job market and inflation expectations do not indicate increasing inflation. Markets now await Friday's official nonfarm payrolls report from the Bureau of Labor Statistics, which includes government jobs unlike the ADP survey.