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The ADP Employment Report released today shows that the private sector added 32,000 jobs in April.
As the chart above depicts, private nonfarm employment has been very slowly increasing within recent months. The gain of 32,000 jobs in April is positive compared to the revised increase of 19,000 jobs the previous month. The ADP Employment Report is slightly above the economic forecasters expectations who predicted 30,000 private sector jobs were added in April. Unfortunately, the construction industry that has been hit hardest by the recession was forced to laid-off an additional 49,000 workers.
While this is an improvement, the addition of 32,000 jobs certainly does not make a significant impact when there are still 15 million Americans unemployed. Despite the slight increase in jobs this month, the unemployment rate still remains near 10 percent for the past few consecutive months. The stimulus has failed by its own measure of keeping unemployment below 8 percent.
While the April ADP Employment Report is to some extent encouraging, private sector employment would be drastically boosted if government cut taxes and removed costly regulations from businesses. A strong effort to reduce burdens on businesses is necessary to provide jobs for the 15 million unemployed Americans. Stay tuned on Friday when the Labor Department's highly anticipated jobs report is released.