The news for the labor market is looking good, as we get the first slice of data on job growth in April:

Private companies added 220,000 new jobs to their payrolls in April, according to the latest ADP National Employment Report released Thursday .

"The 220,000 U.S. private sector jobs added in April is well above the twelve-month average," Carlos Rodriguez, president and CEO of ADP said in a statement. "Job growth appears to be trending up and hopefully this will continue."

Here's a snapshot of how many jobs were added during the past year:

Mark Zandi, chief economist of Moody's Analytics, which produces the report jointly, said after a tough winter, employers are adding to their payrolls.

"The recent pickup in job growth at mid-sized companies may signal better business
confidence," Zandi said. "Job market prospects are steadily improving."

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