EconoIndicators

ADP Employment Report At a Glance

• Total Nonfarm Private Employment: 116,061,000
• Monthly Change: Up 8,000
• Products Producing Sector: 21,916,000
• Monthly Change: Down 77,000
• Service Producing Sector: 94,145,000
• Monthly Change: Up 85,000

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Wednesday, April 2, 2008, 8:15 A.M. ET

Nonfarm private employment increased 8,000 from February to March 2008 on a
seasonally adjusted basis, according to the ADP National Employment Report™. The
estimated change in employment from January to February was revised up 5,000
to negative 18,000. Though positive, the slight increase of 8,000 in March signals a
continuing sharp deceleration of employment growth from previous levels.

Unlike the weakness of employment reported in February, which was widespread across
businesses of all sizes and apparent in all major sectors of the economy, the weakness of
employment in March was concentrated among larger businesses in the goods-producing
sector.

Employment in the service-providing sector of the economy grew 85,000, while
employment in the goods-producing sector declined 77,000, the sixteenth consecutive
monthly decline. Manufacturing employment fell 58,000 in March and marked the
nineteenth consecutive monthly decline.

Large businesses, defined as those with 500 or more workers, saw employment decline
52,000. Conversely, employment among small-size businesses, defined as those with
fewer than 50 workers, advanced 55,000 during the month, up from a revised 16,000 in
February. Employment increased just 5,000 among medium-size businesses with
between 50 and 499 workers.

Two sectors of the economy hit hardest by recent problems in mortgage markets have
been residential construction and financial activities related to home sales and mortgage
lending. In March, construction employment fell 22,000. This is the sixteenth
consecutive monthly decline, bringing the total decline in construction jobs since the
peak in August 2006 to 259,000. Employment in financial activities for the month was
flat.

ADP National Employment Report March 2008 [

Source: ADP