Wednesday, March 7, 2012

ADP: Private Payrolls rose 216,000 in February

Employment in the private business sector rose by 216,000 in February according to the ADP National Employment Report. January’s report also saw a slight upward revision to 173,000 new jobs. February’s report was in line with expectations and likely means we will see a strong jobs number on Friday.

The service sector continues to drive job creation, accounting for 170,000 of February’s new jobs. Manufacturing employment was also notable, adding another 21,000 jobs. Construction jobs continue to grow as well, adding 16,000 in February, the fifth consecutive month of growth. Financial services sector added 14,000 jobs, the largest monthly gain in the last two years.

Read the report.

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