US private sector hiring picks up sharply in March

US private sector hiring jumped last month, according to data from payroll firm ADP published Wednesday, as manufacturing firms shook off the uncertainty around President Donald Trump's tariff rollout.

Private sector employment grew by 155,000 in March, sharply above Briefing.com's market consensus of 120,000.

The US leader has imposed tariffs against top trading partners, and pledged to unveil widescale tariffs on Wednesday in a bid to address global trading relationships that he says are unfair to America.

The combination of tariffs, and uncertainty caused by the stop-start manner in which they have been rolled out, has stymied growth, with several surveys noting that companies have been holding back on investment decisions until they have more clarity about the economic landscape.

However, private sector firms appear to have blown past that uncertainty, and moved ahead with hiring last month, according to ADP.

"The March topline number was a good one for the economy and employers of all sizes, if not necessarily all sectors," ADP chief economist Nela Richardson said in a statement.

The manufacturing sector was a key engine of job growth in March, creating a "stronger-than-average" 21,000 jobs, according to ADP.

Hiring in the construction sector slowed, while the natural resources as well as trade, transportation, and utilities sectors both lost jobs.

The largest job gains were seen in large businesses with more than 500 employees, with most new private sector roles created in the Northeast and Midwest.

Median pay gains slowed last month to 4.6 percent for people who stayed in their jobs, and by 6.5 percent for those who switched companies, ADP said.