BREAKING: ADP Non-Farm Employment Change falls less than expected in March

ADP Non-Farm Employment in the US decreased  to -27k from 183k in the prior month. Analysts’ has expected a reading to show a much larger loss of  -150k. It is the first decrease in private payrolls since September of 2017. The service-providing sector shed 18 thousand jobs, mostly in trade, transportation and utilities (-37 thousand) and leisure & hospitality (-11 thousand). Meanwhile, the goods-producing sector fired 9 thousand workers, mainly due to construction (-16 thousand) while manufacturing hired 6 thousand workers and natural resources and mining added 1 thousand jobs. The CES measures the number of people on payrolls during the pay period that includes the 12th of the month (the reference period). The ADP reading come ahead of the  Thursday’s jobless claims report and Nonfarm payrolls report for March on Friday. Both readings are expected to show the worst of the impact on the labor market.