Manufacturing Industry Has Strongest Jobs Increase in Three Years

Manufacturing Industry Has Strongest Jobs Increase in Three Years
Hiring at private U.S. employers grew more than expected in March, according to a report, as the manufacturing industry showed the strongest increase in more than three years.

Firms across the country added 241,000 workers in March, according to payroll processor Automatic Data Processing Inc. and forecasting firm Moody’s Analytics.

Economists surveyed by The Wall Street Journal had expected the addition of 200,000 jobs.

“The job market is rip-roaring,” said Mark Zandi, chief economist of Moody’s Analytics. “The tight labor market continues to tighten.”

Midsized businesses added nearly half of all jobs in the month. The job growth came from across industries, with construction, professional business services and trade, transportation and utilities leading the way.

The February figure was revised up to 246,000 from 235,000.

The ADP report is based on private-payroll data in addition to government data.

The ADP report comes ahead of the monthly jobs report from the U.S. Bureau of Labor Statistics on Friday. Economists expect nonfarm jobs to rise by 178,000 for March, compared with 313,000 the prior month.