U.S. adds 183,000 private-sector jobs in February
U.S. private sector employment saw a growth of 183,000 in February, strong but likely near the high watermark of expansion, payroll data company Automatic Data Processing (ADP) reported on Wednesday, Trend reported citing Xinhua.
Total nonfarm private employment in the United States increased by 183,000 last month, said the New Jersey-based data company. Economist once forecast the number at 180,000.
According to the ADP, payrolls in service-providing industries rose by 139,000, while goods producers added 44,000 jobs; large firms added 77,000 workers, while medium companies added 95,000.
"Midsized companies have been the strongest performer for the past year. There was a sharp decline in small business growth as these firms continue to struggle with offering competitive wages and benefits," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.
Mark Zandi, chief economist at Moody's Analytics, said that the softer job growth in February resulted from the slower pace of economy. Job growth in January was a revised 300,000.
"The economy has throttled back and so too has job growth. The job slowdown is clearest in the retail and travel industries, and at smaller companies. Job gains are still strong, but they have likely seen their high watermark for this expansion," said Zandi.
The ADP report usually came two days before the crucial monthly employment report released by the U.S. Department of Labor, which will include employment data from both private sector and the government.