U.S. businesses added jobs at the slowest pace in three years according to a private survey, reports The New York Times. Companies added 156,000 jobs in April, down from 194,000 in March, payroll processor ADP said on Wednesday. Service firms added 166,000 jobs, down from 189,000.
Mark Zandi, chief economist of Moody's Analytics, said, "The job market appears to have stumbled in April. Job growth noticeably slowed, with some weakness across most sectors. One month does not make a trend, but this bears close watching as the financial market turmoil earlier in the year may have done some damage to business hiring."
The numbers, which cover only private businesses, come two days before the U.S. government’s monthly jobs report.
