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Financial News: U.S. Private Sector Employment Rises Slightly Less Than

U.S. Private Sector Employment Rises Slightly Less Than Expected In February

03/06/2024 - 08:28:00 (RTTNews)

(RTTNews) - A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by slightly less than expected in the month of February.

ADP said private sector employment rose by 140,000 jobs in February after climbing by an upwardly revised 111,000 jobs in January.

Economists had expected private sector employment to grow by 150,000 jobs compared to the addition of 107,000 jobs originally reported for the previous month.

"Job gains remain solid. Pay gains are trending lower but are still above inflation," said ADP chief economist Nela Richardson. "In short, the labor market is dynamic, but doesn't tip the scales in terms of a Fed rate decision this year."

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