Today’s report by ADP and Moody’s Analytics shows “good, consistent job creation across the board,” says Moody’s Analytics chief economist Mark Zandi in a conference call. The U.S. economy added 191,000 private-sector jobs in March, up from February’s 178,000—which was previously reported as 139,000—andJanuary’s 121,000.
The construction industry added 20,000 jobs over the month—up from an average of 16,000 over the prior three months. In last month's report, Zandi attributed slow growth in the construction industry to the effects of bad weather. This month's report reflects that the "job market is coming out from its deep winter slumber,” he says in a press release. “Job gains are consistent with the pace prior to the brutal winter.”
The manufacturing industry saw little growth, as the economy added a mere 5,000 jobs—the same as February. This is, however, a significant improvement from January’s loss of 11,000 manufacturing jobs.
The professional and business services sector, a broad category that most likely includes architects and engineers, rose by 53,000 jobs. This follows January’s increase of 29,000 and February’s 49,000.
Zandi predicts that in the next three months as temperatures continue to climb, so will job numbers. He expects total employment to grow by over 200,000 in the private sector in the near future.
The U.S. Bureau of Labor Statistics report is scheduled for release on Friday morning, providing more detailed information about the economic state of the construction and architecture fields.
