WASHINGTON – A survey shows U.S. companies added the fewest jobs in seven months, indicating that government spending cuts and higher taxes may be weighing on the economy.
Payroll processor ADP says private employers added just 119,000 jobs last month. And March's hiring was slower than first thought: the survey shows just 131,000 added, down from an initial estimate of 158,000.
Manufacturers cut 10,000 jobs, while construction firms added 15,000.
The ADP report is derived from payroll data and tracks private employment each month. It has diverged at times from the government's more comprehensive monthly jobs report, which will be released Friday. In March, the government said employers added 88,000 jobs, much lower than ADP's figure.
Economists forecast that the government report will show 160,000 jobs added in April.