Tabs

Wednesday, March 8, 2017

ADP: 298,000 Jobs Added in February

The non-farm private sector added 298,000 jobs in February, according to the ADP National Employment Report. January’s figure was revised upward to 261,000. Service-providing jobs accounted for most of the month’s growth, while goods-producing employment surged as well.
Growth was widespread in February with businesses of all sizes seeing strong increases, with strong gains for small and medium-sized businesses. Small businesses with fewer than 50 employees added 104,000 jobs, while medium-sized businesses with 50-499 employees added 122,000 jobs. Large businesses added 72,000 jobs.

“February was a very good month for workers,” said Mark Zandi, chief economist of Moody’s Analytics. “Powering job growth were the construction, mining and manufacturing industries. Unseasonably mild winter weather undoubtedly played a role. But near record high job openings and record low layoffs underpin the entire job market.”

Service-providing employment rose by 193,000 jobs, driven by the professional and business services sector which added 66,000 jobs. Health care and social assistance jobs also increased, adding 38,000 jobs. Goods-producing employment increased by 106,000 jobs. The construction industry led the gain, adding 66,000 jobs.

Read the ADP report.
Visit Banks and the Economy.

No comments:

Post a Comment

Please read our comment policy before making a comment.