Joe Raedle/Getty ImagesEconomists expected a 500,000-payroll increase. The reading marks a third straight month of gains.See more stories on Insider's business pageThe US private sector added jobs in March as continued vaccination and the approval of new stimulus reinvigorated the labor market's recovery.. Economists surveyed by Bloomberg held a median estimate of 550,000 payroll additions.
The labor market has slowly resumed its climb to pre-pandemic health after stumbling through the winter surge in virus cases. Warmer weather and the gradual easing of lockdown measures haveThe leisure and hospitality and trade sectors boasted the largest increases in payrolls through the month, ADP reported. Firms in the natural resources and mining industry saw modest declines.
"Stronger growth means a faster healing in the labor market," they said in a note to clients, adding their projections mean"the employment-to-population will have fully healed by the end of the year."