Private sector created more jobs than expected in March, ADP says

The private sector continues to drive new job creation. The ADP/Stanford Lab firm's monthly survey showed that private companies created more jobs than expected in March.

Last month, 155,000 private-sector jobs were created, above the 120,000 estimated by analysts, according to the market consensus released by MarketWatch.

Labor market held steady in February

Meanwhile, data from the Bureau of Labor Statistics showed that the number of job openings was virtually unchanged at 7.6 million in February.

"This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class," the bureau explained in a statement.

"Job openings include all positions that are open on the last business day of the month. Hires and separations include all changes to the payroll during the entire," the bureau added in a release.

In addition, the bureau explained that, in February, the number of layoffs and resignations remained virtually unchanged at 1.8 million. Layoffs and resignations increased in retail trade (+67,000); real estate, rental and leasing (+24,000); and federal government (+18,000).

"The labor market remains stable," said Julia Pollak, chief economist at the Labor Department, in a release on X.