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ADP jobs report April 2024: 192,000 jobs added

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Private payrolls increased at a faster-than-expected pace in April, indicating there are still plenty of tail winds for the U.S. labor market, according to ADP.

A separate report indicated that job openings continue on the decline, falling to their lowest level since early 2021.

The payrolls processing firm reported Wednesday that companies added 192,000 workers for the month, better than the Dow Jones consensus outlook for 183,000 though a slight step down from the upwardly revised 208,000 in March.

At the same time, the firm’s wage measure showed worker pay up 5% from a year ago, a multiyear low that provided some welcome news against multiple other signs showing inflation has proved more resilient than many economists and policymakers had expected.

“Hiring was broad-based in April,” ADP’s chief economist, Nela Richardson, said. “Only the information sector – telecommunications, media, and information technology – showed weakness, posting job losses and the smallest pace of pay gains since August 2021.”

Job gains were strongest in leisure and hospitality, which posted an increase of 56,000. Other industries showing gains included construction (35,000) and sectors covering trade, transportation and utilities as well as education and health services, both of which saw increases of 26,000.

Professional and business services contributed 22,000 to the total while financial activities added 16,000.

Companies with 500 or more workers showed the biggest gain in hiring with 98,000.

Separately Wednesday, the Labor Department reported that job openings declined again in March, falling to a seasonally adjusted 8.49 million, the lowest level since February 2021.

The Jobs Openings and Labor Turnover Survey showed postings fell by more than 1.1 million compared to a year ago, and were at 1.3 openings to available workers. The openings rate as a share of the total labor force fell to 5.1%, a decline of 0.2 percentage points.

Also, the report indicated a decline in hiring, separations and quits.

The releases come two days ahead of the more closely watched nonfarm payrolls report. In recent months, ADP has consistently undershot the Labor Department’s count, though the numbers were fairly close in March. The department’s Bureau of Labor Statistics reported that private payrolls increased by 232,000 for the month versus ADP’s 208,000.

Friday’s report is expected to show growth of 240,000 in total nonfarm payrolls for April, down from March’s 303,000, according to the consensus Dow Jones estimate.

Correction: Friday’s report is expected to show growth of 240,000 in total nonfarm payrolls for April, according to the consensus Dow Jones estimate. An earlier version misstated the figure.

Economics

The fantastical world of Republican economic thinking

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The elites of the American right cannot reconcile the inconsistencies in their policy platform

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Economics

People cooking at home at highest level since Covid, Campbell’s says

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A worker arranges cans of Campbell’s soup on a supermarket shelf in San Rafael, California.

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Campbell’s has seen customers prepare their own meals at the highest rate in about half a decade, offering the latest sign of everyday people tightening their wallets amid economic concerns.

“Consumers are cooking at home at the highest levels since early 2020,” Campbell’s CEO Mick Beekhuizen said Monday, adding that consumption has increased among all income brackets in the meals and beverages category.

Beekhuizen drew parallels between today and the time when Americans were facing the early stages of what would become a global pandemic. It was a period of broad economic uncertainty as the Covid virus affected every aspect of everyday life and caused massive shakeups in spending and employments trends.

The trends seen by the Pepperidge Farm and V-8 maker comes as Wall Street and economists wonder what’s next for the U.S. economy after President Donald Trump‘s tariff policy raised recession fears and battered consumer sentiment.

More meals at home could mean people are eating out less, showing Americans tightening their belts. That can spell bad news for gross domestic product, two thirds of which relies on consumer spending. A recession is commonly defined as two straight quarters of the GDP shrinking.

It can also underscore the souring outlook of everyday Americans on the national economy. The University of Michigan’s consumer sentiment index last month fell to one of its lowest levels on record.

Campbell’s remarks came after the soup maker beat Wall Street expectations in its fiscal third quarter. The Goldfish and Rao’s parent earned 73 cents per share, excluding one-time items, on $2.48 billion in revenue, while analysts polled by FactSet anticipated 65 cents and $2.43 billion, respectively.

Shares added 0.8% before the bell on Monday. The stock has tumbled more than 18% in 2025.

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Economics

Why stricter voting laws no longer help Republicans

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“The Republicans should pray for rain”—the title of a paper published by a trio of political scientists in 2007—has been an axiom of American elections for years. The logic was straightforward: each inch of election-day showers, the study found, dampened turnout by 1%. Lower turnout gave Republicans an edge because the party’s affluent electorate had the resources to vote even when it was inconvenient. Their opponents, less so.

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