Companies added the fewest number of U.S. workers in seven months in April, a reminder the job market will take time to strengthen, a private report based on payrolls showed today.
Employment increased by 119,000 following a revised 201,000 gain the prior month, according to figures from Roseland, New Jersey-based ADP Employer Services. The median forecast of economists surveyed by Bloomberg News called for a 170,000 advance.
Companies may remain hesitant about expanding their workforce until they see more evidence that the gains in consumer spending, which accounts for about 70 percent of the economy, will be sustained. A Labor Department report in two days is projected to show that private payrolls accelerated in April, while unemployment held at 8.2 percent.
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