U.S. private employers added 214,000 jobs in February: ADP
U.S. private employers added 214,000 jobs in February, above economists’ expectations, suggesting solid job growth despite market turmoil and worries about a slowing global economy, a report by a payrolls processor showed on Wednesday.
Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 190,000 jobs, with estimates ranging from 160,000 to 225,000.
Private payroll gains in the month earlier were revised down to 193,000 from an originally reported 205,000 increase.
The report is jointly developed with Moody’s Analytics.
“It’s still a very strong report. The jobs market is very healthy,” Moody’s Analytics’ chief economist Mark Zandi said on a conference call with reporters.
If companies continue to expand their payrolls, the economy would achieve full employment by mid-year, he said.
The ADP figures come ahead of the U.S. Labor Department’s more comprehensive non-farm payrolls report on Friday, which includes both public and private-sector employment.
