Wednesday, March 4, 2015

ADP: Private Sector Added 212,000 Jobs in February

According to the ADP National Employment report, the private sector added 212,000 jobs in February, 38,000 fewer than January, as both goods-producing and services sectors experienced decreased growth compared to the previous month. The February report upwardly revised the January and December headline numbers by 37,000 and 22,000 jobs, respectively.

Small businesses, companies with fewer than 49 employees, added 94,000 jobs, 3,000 fewer than in January. Medium businesses, companies with 50 to 499 employees, added 63,000 jobs, 43,000 fewer than in January. Large businesses, companies with greater than 500 employees, added 56,000 jobs in February, up from 47,000 jobs added in January.

Goods-producing employment rose by 31,000 jobs, a 14,000 job decrease from the previous month, as construction and manufacturing added a combined 34,000 jobs, 13,000 fewer than in January.

The service-providing sector employment rose by 181,000 jobs, down from 206,000 in January. The slower growth in the service sector was primarily due to decreased job growth in trade, transportation and utilities sectors, which added 31,000 jobs, 19,000 jobs fewer than last month’s gains. Professional and business services contributed 34,000 jobs, a decline from the 49,000 job gain in January. Financial activities added 20,000 new jobs, an increase from last month’s 15,000, marking the largest gain in that sector since 2006.

Read the ADP release.

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