ADP Employment Report: 191K Jobs Added

Economists say the number comes in a little below expectations.
3:00 | 04/02/14

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Transcript for ADP Employment Report: 191K Jobs Added
And April 2 the markets a new -- open in today's big number 191000. That's how many people were added to the payrolls by private employers last month according to the ADP national employment report just out this morning. Hi everyone I'm Michelle Franzen and New York. On those march jobs that were added I want to bring in -- -- from Yahoo! finance. A 191000. Sounds like a big number some economists were forecasting war how is it shaping up. -- -- came in slightly below expectations economists were looking for a 195000. Jobs to be added. That said it's not much of an S -- at dairy at respectable number. And it reflects that the concerns over whether which had -- and hiring or at least economists believe that dampened hiring over the last few months. Fit that trying could be turning around and it visited. Foreshadow. Better gains to come in the future so this is a pretty positive number it was -- and the largest share by small business hiring and misses a number of people look at -- -- preview I had -- -- government jobs report which is out. For -- -- L I will say it's not at all a perfect indication not always correlated. -- -- sometimes gives people a bit of a sense of what the private -- doing -- get an idea what that number with and the 191000. For small businesses he said that made up the big share of the pie does that say about small businesses and and their growth and help from the market. It doesn't they are aware jobs are being added 72000 jobs -- in small business now I should say that that compares to 67000. For large businesses but it just shows -- This country's really depending on the growth of small businesses -- ability of small businesses to operate. -- in this country without too much of a regulatory burden -- tax burden because they really are driving a lot of the job. Growth job gains and economic gains and it looks like that means that across those sectors there's a pretty even. Growth in that area of course you mentioned on Friday -- -- highly watched jobs report from the labor department for march. What are we expect him on. So we're expecting a bit of a rebound compared to prior mind as I mentioned the weather has really been impacting this -- -- is believed to be impacting us number it was a little better in February but December and January just very poor showing so. It's supposed to give more respectable 200000 jobs added for march -- that's what economists are anticipating and to give you a sense in context just pretty much. Indicates a continuation of a slow -- steady recovery it's not gangbusters but not fallen off a cliff either -- slowly bringing down the unemployment rate and slowly putting people back to work. But it should represent a bit of a rebound -- -- and disappoint reports which are believed to be affected by the very very cold. Unseasonably cold winter weather with that slow and steady wins the race sort of mentality do you think consumers are also getting a little bit more confidence as we move forward. Well one of the things we've seen our strong auto sales they really rebounded we got those numbers out yesterday and -- major auto -- -- handily beat expectations and that shows that consumers. Our spending on a major purchase like autos and so that's just one indication. Of where some -- the strengthening consumer is coming up. So as we move forward Lauren how does this fit into the context of the whole economy nobody is watching the job situation more closely probably than Janet Yellen. And the Federal Reserve as it balances out the amount of proper support of course -- stimulus. What do you think they'll be watching for in the months and months ahead. So what weeks. -- -- -- Janet Yellen a fed chair earlier this week she gave a speech she gave an indication. -- just how many aspects of the labor market she's looking at so while the unemployment rate is six point 7% and a more normal rate would be five point two to five point 6% for what unemployment should be in this economy she indicated that there's so much more that they're looking at they're looking at numbers beyond. That -- including the number of part time workers -- which there is a sizable faction that have part time work but would want more. This sizable portion of people that have dropped out of the labor force altogether that's a big question mark people. -- want to know why am it'll take to get more than back in to the labor market to even be looking for a job also wage -- looking for wages -- to increase they've been very stagnant. So those are some that things beyond just that headline number at that -- -- very focused on and she did something it was quite unusual for at a Central Bank chair typically these are very. Academic speech is -- very high level and she actually gave a few examples of struggling Americans are real life a case is unemployment and the struggle to find work which is quite. And atypical of other Central Bank share but really highlighted just how focused she is on the labor market and on this idea that the Fed could and should be doing more to help it. Absolutely right very rare to hear that type of anecdote from the Federal Reserve -- -- from Yahoo! finance thanks for joining us. And you can of course keep up with the latest headlines right here on Even watching the big number I'm Michelle -- in New York.

This transcript has been automatically generated and may not be 100% accurate.

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