Hiring in the U.S. private sector is expected to have increased by 170,000 jobs in March, on the heels of a disappointing month for job creation.
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In February, the private sector added 183,000 jobs or slightly less than the anticipated 189,000, according to the ADP National Employment report.
"Job gains are still strong," Mark Zandi, chief economist for Moody's, said in a previous statement. "But they have likely seen their high watermark for this expansion.”
Meanwhile, the U.S. economy added a measly 20,000 jobs in February, significantly less than what experts expected, spurring additional fears about a potential economic slowdown. However, average hourly wages jumped 3.4 percent year-over-year, a rate of increase not seen since April 2009.
On Friday, the Labor Department will release its March jobs report, which will offer an in-depth look at the labor market, including job additions, the unemployment rate, the labor participation rate and wage growth. Analysts expect the U.S. economy will likely add 175,000 jobs, according to economists surveyed by Refinitiv.