April 2 (Bloomberg) — Companies boosted payrolls in March by the most in three months, adding to evidence the job market is recovering from a blast of harsh winter weather, a private payrolls report showed.
The 191,000 increase in employment followed a revised 178,000 gain in February that was stronger than initially estimated, according to the ADP Research Institute in Roseland, New Jersey. The median forecast of economists surveyed by Bloomberg called for a 195,000 advance.
The figures show companies are gaining confidence demand will strengthen from earlier in the year when colder-than-normal temperatures and snowstorms prompted Americans to cut back. Further gains in employment and wage growth will help set the stage for a pickup in household spending, which accounts for almost 70 percent of the economy.
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