Investing.com - U.S. private employers added far fewer jobs than anticipated in April, in a possible sign that tariff-fueled uncertainty is weighing on hiring.
Private payrolls rose by 62,000 this month, slipping from a downwardly-revised 147,000 in March, the ADP National Employment Report showed on Wednesday. Economists had seen the number at 114,000.
Several sectors, including education and health services, information, and professional and businesses services lost jobs, while hiring in other industries was moderate, ADP said.
"Unease is the word of the day," said Nela Richardson, Chief Economist at ADP, in a statement. "Employers are trying to reconcile policy and consumer uncertainty with a run of mostly positive economic data. It can be difficult to make hiring decisions in such an environment."
U.S. President Donald Trump’s often erratic trade policy has caused a spike in uncertainty around the overall operating backdrop, possibly complicating future spending plans for many businesses.
However, the ADP figures will serve as a precursor to the more comprehensive labor market report later this week. The Bureau of Labor Statistics’ all-important nonfarm payrolls data is expected to show that the U.S. added 129,000 roles in April, down from 228,000 in March.