UPDATE 1-US private sector adds 201,000 jobs in March-ADP

(Adds details, quote, market reaction)

NEW YORK, March 30 (Reuters) – U.S. private employers added
201,000 jobs in March, while February’s figure was revised down
slightly, a report by a payrolls processor showed on
Wednesday.

The data was largely in line with expectations. Economists
surveyed by Reuters had forecast the ADP Employer Services
report would show a gain of 203,000 jobs. The report is
jointly developed with Macroeconomic Advisers LLC.

February’s figure was revised down to 208,000 from
217,000.

“Basically the number was very much in line with
expectations and shows that the labor recovery continues at a
reasonable pace,” said David Katz, chief investment officer at
Matrix Asset Advisors in New York.

“It looks like the U.S. economic recovery continues, and
the improving labor market should be a buffer against weak
areas like real estate.”

U.S. Treasury prices rose modestly immediately after the
data and the U.S. dollar trimmed gains against the euro and
yen, while U.S. stock index futures remained higher.

The ADP figures come ahead of the government’s much more
comprehensive labor market report on Friday, which includes
both public and private sector employment.

That report is expected to show the economy created about
190,000 jobs in March based on a Reuters poll of analysts,
while private payrolls are forecast to rise by 200,000.
[ECI/US]

Economists often refer to the ADP report to fine-tune their
expectations for the payrolls numbers, though it is not always
accurate in predicting the outcome.
(Reporting by Leah Schnurr, additional reporting by Ryan
Vlastelica)

UPDATE 1-US private sector adds 201,000 jobs in March-ADP