WASHINGTON – U.S. companies hired in April at the slowest pace in nearly a year and a half, as a strong dollar dragged down overseas sales and energy companies cut back on spending in the face of lower oil prices.
Payroll processor ADP says businesses added just 169,000 jobs in April, down from 175,000 in the previous month. That was the fewest since January 2014. March’s total was revised down from 189,000.
The ADP numbers cover only private businesses and sometimes diverge from the government’s more comprehensive report, which includes government agencies.