Private employers add 62K jobs in March: ADP

Private employers added 62,000 jobs in March, according to ADP's payroll report released Tuesday. The gain suggests steady but modest hiring momentum, with wage growth holding level and smaller employers driving most of the job creation. March's figure marks a slowdown from recent months and underscores the labor market's cooling trajectory as the Federal Reserve weighs inflation trends. The ADP report typically previews the more closely watched monthly jobs report from the Labor Department, which will provide a fuller picture of hiring across both private and public sectors.