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Financial News: U.S. Private Sector Employment Climbs More Than Expected

U.S. Private Sector Employment Climbs More Than Expected In February

03/04/2020 - 08:24:00 (RTTNews)

(RTTNews) - Private sector employment in the U.S. increased by more than expected in the month of February, according to a report released by payroll processor ADP on Wednesday.

ADP said private sector employment climbed by 183,000 jobs in February after jumping by a downwardly revised 209,000 jobs in January.

Economists had expected employment to rise by about 170,000 jobs compared to the spike of 291,000 jobs originally reported for the previous month.

"The labor market remains firm, as private-sector payrolls continued to expand in February," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.

She added, "Job creation remained heavily concentrated in large companies, which continue to be the strongest performer."

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