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The private sector added more jobs than expected in February, according to a report by ADP (NASDAQ:ADP). The payrolls processor reported on Wednesday that private employers added 216,000 jobs last month, topping economists’ expectations for a 208,000 gain.
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The ADP National Employment Report also upwardly revised January’s payroll figures to an increase of 173,000. The ADP’s initial figures for January showed a 170,000 rise, but the Labor Department’s data two days later showed an increase of 257,000 in private payrolls.
The report showed an increase of 46,000 workers in goods-producing industries, including manufacturing and construction. Employment at factories rose by 21,000. Service providers added 170,000 workers.
Companies employing more than 499 workers accounted for 20,000 of the jobs created last month. Medium-sized businesses, with 50 to 499 employees, created 88,000 jobs in February, and small companies increased payrolls by 108,000.
ADP is a payrolls processor. The jobs report, which was created jointly with Macroeconomic Advisers LLC, is based on data from 340,000 businesses employing more than 21 million workers. The Labor Department will issue its monthly jobs report, which covers both the public and private sectors, on March 9.
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