U.S. Private Sector Adds 192,000 Jobs in April, Exceeding Expectations

The labor market displayed resilience with broad-based hiring, even as inflation concerns persist.

ADP reported a gain of 192,000 private sector jobs in April, surpassing the expected 183,000.
Job growth was led by the leisure and hospitality sector with significant contributions from construction and healthcare.
Wage growth decelerated to 5% annually, a multiyear low, indicating a potential easing of inflation pressures.
The information sector was the only area to report job losses, highlighting sector-specific challenges.
This strong job report comes ahead of the Federal Reserve's decision on interest rates, influencing economic forecasts.