U.S. Private Hiring Hits 63,000 In February But Job Growth Remains Narrow

Private employers added 63,000 jobs in February, slightly exceeding expectations but revealing a narrow and uneven hiring trend across the U.S. economy, according to payroll firm ADP. Economists had forecast about 48,000 new jobs. January’s figure was sharply revised down to just 11,000 positions, signaling a weaker start to the year.

Most job growth came from only two sectors. Education and health services led with 58,000 new jobs, while construction added 19,000. Several major industries posted losses. Professional and business services cut 30,000 jobs, manufacturing shed 5,000, and trade, transportation, and utilities declined by 1,000.

🔴BREAKING:
Private companies added 63,000 jobs in February, January revised to just 11,000 additions, ADP sayshttps://t.co/7JfgQ85rOX

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Small businesses drove hiring, adding 60,000 workers, while medium-sized firms lost 7,000 jobs and large companies added 10,000. Wage growth for workers who stayed in their jobs held steady at 4.5 percent.

The report arrives as policymakers watch inflation pressures tied to rising oil prices and the Iran conflict. The ADP data precedes the government’s official February jobs report due Friday.

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