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2 Mar 2016
US ADP shows private sector job growth accelerated in February
The data released by the Automatic Data Processing, Inc, (ADP) showed the US private sector jobs growth accelerated in February, adding evidence to the labor market strength and strengthening case for a Fed rate hike in 2016.
The ADP report showed private sector in the US added 214K jobs in February. Economists had called for the report to show private employers added 190K jobs, compared to the downwardly revised 193K additions seen in January.
Sector wise details reveal 208K jobs were added by the service industry, while the goods-producing sector added 5K jobs in.
A Labor Department report – Non-farm payrolls - on Friday is projected to show employers, including government agencies, took on 190,000 workers last month, while the jobless rate remained unchanged at 4.9%.
The ADP report showed private sector in the US added 214K jobs in February. Economists had called for the report to show private employers added 190K jobs, compared to the downwardly revised 193K additions seen in January.
Sector wise details reveal 208K jobs were added by the service industry, while the goods-producing sector added 5K jobs in.
A Labor Department report – Non-farm payrolls - on Friday is projected to show employers, including government agencies, took on 190,000 workers last month, while the jobless rate remained unchanged at 4.9%.