News Summary: Private employers add just 119K jobs

AP News
Posted: May 01, 2013 3:53 PM

HIRING SLOWS: A survey by payroll processor ADP shows U.S. companies added just 119,000 jobs in April, the fewest in seven months. And hiring in March was slower than first thought, with job gains revised down to 131,000 from an initial estimate of 158,000.

GOVERNMENT DRAG: The report suggests that government spending cuts and higher taxes could be starting to weigh on the job market. It also points to smaller job gains in the government's monthly jobs report, to be released Friday, than many economists expect.

HEALTH CARE IMPACT: Mark Zandi, chief economist at Moody's Analytics, which compiles the data, said health care reform may also be discouraging some employers from hiring.