US private employers slowed their hiring pace in March while services sector activity eased, separate surveys showed on Wednesday.
Private employers eased their hiring pace in March according to payroll firm ADPUS private employers slowed their hiring pace in March while services sector activity eased, separate surveys showed Wednesday, in signs that the economy is cooling following efforts to contain inflation.
A number above 50 signals the services sector is still expanding but ISM survey chair Anthony Nieves said the pullback in growth was due in part to slower new orders and a mixed employment environment. "Employers are pulling back from a year of strong hiring and pay growth, after a three-month plateau, is inching down," she added.
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