US private payrolls growth slows in March ADP

WASHINGTON (Reuters) – U.S. private employers hired far fewer workers than expected in March, adding to signs that the labor market was cooling. The ADP National Employment report on Wednesday followed on the heels of government data on Tuesday showing job openings falling below 10 million at the end of February for first time in nearly two years. Slowing job growth will be welcomed by Federal Reserve officials as they consider whether to pause the U.S. central bank’s fastest interest rate hiking cycle since the 1980s. “While we don’t take too much signal from the ADP report, we think that…