The U.S. private sector witnessed a surprising surge in job additions during March, adding 184,000 jobs according to ADP data.
This figure surpassed economists' expectations of 148,000 jobs, marking the largest increase since July.
Notable growth was observed in sectors like leisure and hospitality, while job gains were strong across various industries, except for professional services which saw a decline in hiring.
Despite concerns about inflation, wages showed signs of growth, with job-changers experiencing a significant increase in pay gains.
This unexpected strength in the labor market may influence Federal Reserve policymakers' decisions regarding potential interest rate cuts in the future.
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