BUSINESSES ADD JOBS AT SLOWEST PACE IN 18 MONTHS

In advance of the March jobs report due out from the Labor Department on Friday, payroll processor ADP was out Wednesday with results of a survey that shows job growth slowing. AP News reports:
Companies added the fewest jobs in 18 months in March, a private surveyfound, suggesting employers may have grown more cautious as signs of slower economic growth have emerged.
Payroll processor ADP said Wednesday that businesses added 129,000 jobs last month, down from the previous month’s gain of 197,000. Still, the job gains in March are enough to slightly lower the unemployment rate over time.
All the job gains were in service sectors, such as education and health care, which added a combined total of 56,000. Professional and business services, which include engineering, accounting, and other higher-paid work, added 41,000.
Manufacturing and construction firms both cut jobs last month.

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