U.S. gains jobs; unemployment drops

WASHINGTON — Nonfarm payroll employment increased by 98,000 jobs in March 2017, according to the latest figures from the Bureau of Labor Statistics (BLS).

The unemployment rate in March fell to 4.5 percent from February's 4.7 percent, the BLS said in its April 7 report.

Professional and business services was the fastest-growing employment sector in March, gaining 56,000 jobs, according to the report.

Health care gained 14,000 jobs, mining 11,000 jobs, financial activities 9,000 jobs, and construction 6,000 jobs, the BLS said. Retail trade lost 30,000 jobs, while manufacturing, wholesale trade, transportation and warehousing, leisure and hospitality, and information saw little change during the month, it said.

On April 5, payroll services firm ADP Inc. released very different employment figures.

According to ADP, nonfarm payroll employment grew by 263,000 jobs in March. Small businesses — those with one to 49 employees — had the strongest gains, with 118,000 new jobs, it said.

Medium-sized businesses (50 to 499 employees) gained 100,000 jobs during the month, and large businesses (500 or more employees) added 45,000, ADP said.

Goods-producing sectors added 82,000 jobs and service-providing sectors 181,000, the company said. There were 30,000 new jobs in manufacturing and 34,000 in trade/transportation/utilities, it said.

ADP reported 13,900 new jobs in the franchise industry, including 5,700 among auto parts and dealers.

Small business owners continued to hire in March, and had to increase compensation to remain competitive in a tight labor market, according to the March Jobs Report released by the National Federation of Independent Business.

"The post-election optimism we've seen among small business owners has led to more job openings," NFIB President and CEO Juanita Duggan said, "but small employers are struggling to find qualified applicants."