ADP Says U.S. Companies Employed Fewer Workers Than Forecast

Companies added fewer workers than forecast in April, an indication the labor market has cooled along with the rest of the U.S. economy.

The 119,000 increase in employment, the smallest since September, followed a revised 131,000 gain in March that was smaller than initially estimated, figures from the Roseland, New Jersey-based ADP Research Institute showed today. The median forecast of 37 economists surveyed by Bloomberg projected a 150,000 advance.