The Hanley Wood Data Studio reports that the U.S. economy added 204,000 private, non-farm jobs in April according to the monthly employment report released today by payroll-management firm ADP and its partner Moody's Analytics. The seasonally adjusted result is 10.5 percent lower than March's downwardly revised addition of 228,000 jobs, and marks a 31.6 percent increase from last April, when 155,000 jobs were created.
“The labor market continues to maintain a steady pace of strong job growth with little sign of a slowdown,” said ADP Research Institute vice president and co-head Ahu Yildirmaz in a press release. “However, as the labor pool tightens it will become increasingly difficult for employers to find skilled talent. Job gains in the highskilled professional and business services industry accounted for more than half of all jobs added this month. The construction industry, which also relies on skilled labor, continued its six-month trend of steady job gains as well.”
In spite of this growth, economists still worry about the volatility of an overheated economy.
“Despite rising trade tensions, more volatile financial markets, and poor weather, businesses are adding a robust more than 200,000 jobs per month," said Moody's Analytics chief economist Mark Zandi. "At this pace, unemployment will soon be in the threes, which is rarified and risky territory, as the economy threatens to overheat."Read More