A private survey shows U.S. companies added just 119,000 jobs in April, the fewest in seven months.
The
report Wednesday from payroll processor ADP suggests that government
spending cuts and higher taxes could be starting to weigh on the job
market. And new requirements under President Barack Obama's health care
law may be prompting some small and mid-size companies to hold back on
hiring.
ADP also said that hiring in March was
slower than first thought: the survey shows just 131,000 added, down
from an initial estimate of 158,000.
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