3/3, 2:16 PM (Source: TeleTrader)
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ADP: US private payrolls rise by 117,000 in February

The number of jobs in the United States private sector rose by 117,000 in February compared to the previous month, significantly below analyst expectations, the ADP National Employment Report showed on Wednesday.

Employment in midsized businesses contributed the most to the growth having added 57,000 jobs last month, while small companies hired 32,000. Meanwhile, large businesses added 28,000 jobs. Jobs growth in the service-providing sector accounted for all of the gains in February.

"The labor market continues to post a sluggish recovery across the board. We’re seeing large-sized companies increasingly feeling the effects of COVID-19, while job growth in the goods-producing sector pauses," chief economist at ADP Nela Richardson said.

Breaking the News / JC