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Monday, 25 September 2017

Private Employment increased 198,000 in February: ADP

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San Diego, California.- Private sector employment increased by 198,000 jobs from January to February, according to the February ADP National Employment Report.

The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. The January 2013 report, which reported job gains of 192,000, was revised upward by 23,000 to 215,000 jobs.

Goods-producing employment rose by 34,000 jobs in February, driven largely by a gain in construction jobs of 21,000. Meanwhile, manufacturers added 9,000 jobs.

Service-providing jobs increased by 164,000. Among the service industries reported by the ADP National Employment Report, trade/transportation/utilities services showed the largest gain with 45,000 jobs added over the month. Business/professional services added 35,000 jobs and financial activities added 7,000 jobs.

"In February 2013, the U.S. private sector added a total of 198,000 new jobs, with most of this job growth occurring in the services sector," noted Carlos A. Rodriguez, president and chief executive officer of ADP. "This growth can be attributed to comparable contributions across all three company size segments."

Mark Zandi, chief economist of Moody’s Analytics, said, “The job market remains sturdy in the face of significant fiscal headwinds. Businesses are adding to payrolls more strongly at the start of 2013 with gains across all industries and business sizes. Tax increases and government spending cuts don’t appear to be affecting the job market.”

This Report is produced by ADP® in collaboration with Moody’s Analytics.

Economists' consensus forecast for the government's report on Friday is for overall job gains of 155,000 last month — compared with an increase of 157,000 in January — and the same unemployment rate of 7.9%.

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