214,000 jobs added to private sector in February

Jobs report February 2016

Payroll processor ADP says 214,000 jobs were added to the US private sector in February — beating economists’ expectations.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show an increase of 190,000 jobs.

General estimates ranged from 160,000 to 225,000.

Private payroll gains in the month earlier were revised down to 193,000 after being reported at 205,000.

The ADP figures come ahead of the U.S. Labor Department’s more comprehensive non-farm payrolls report on Friday. The government report includes both public and private-sector employment.

Economists polled by Reuters are looking for US private payroll employment to have grown by 185,000 jobs in February, up from 158,000 the month before.

Total non-farm employment is expected to reach 190,000.

The unemployment rate is forecast to stay steady at 4.9%

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Written by Jeff Springer

Jeff Springer

Jeff Spring is the Finance & Markets Editor at BusinessPundit.com. He's currently spending his days backpacking across Europe. While he may be living outside of the United States, he stays connected to American financial markets and M&A's more than is probably healthy for any single person. His love of a good book and a Bloomberg terminal can't be understated. He can be reached at JeffSpringer@BusinessPundit.com