Companies hire fewer in March, service sector growth slows

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By Leah Schnurr

NEW YORK | Wed Apr 3, 2013 10:48am EDT

NEW YORK (Reuters) - Companies hired at the slowest pace in five months in March as recent strong demand for construction jobs evaporated, but separate data on Wednesday showed the pace of growth in the vast services sector slowed last month.

The ADP National Employment Report said private employers added 158,000 jobs last month, falling short of economists' expectations for an additional 200,000. The report came in below the lowest estimates in a poll by Reuters and was the smallest gain since October.

Companies hire fewer in March, service sector growth slows | Reuters

 

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Journalists do not know how to write anymore. Why the word but when it is pointing in the same direction?
More from the article -
Separate data on Wednesday showed the pace of growth in the vast U.S. services sector slowed in March to the lowest level in seven months as new orders and employment measures pulled back.

The forward-looking new orders index slipped to 54.6 from 58.2, while employment dropped to its lowest level since November at 53.3 from 57.2.

The Institute for Supply Management said its services index fell to 54.4 last month from 56 in February, falling short of economists' forecasts for 55.8. It was the weakest reading since August.