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ADP National Employment Report: US Private Sector Employment Increased by 242,000 Jobs in February; Annual Pay was Up 7.2%
Private sector employment increased by 242,000 jobs in February and annual pay was up 7.2 percent year-over-year, according to the February ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab ("Stanford Lab"). The jobs report and pay insights use ADP's fine-grained anonymized and aggregated payroll data of over 25 million U.S. employees to provide a representative picture of the labor market. The report details the current month's total private employment change, and weekly job data from the previous month. ADP's pay measure uniquely ... (full story)
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ADP Reports Wage Growth Slowing Despite Job Gains
After tumbling last month to its lowest in two years (blamed on weather), ADP's employment report was expected to show a rebound in Feb, adding 200k jobs. The actual print was even higher at +242k (with January's revised up to +119k). Large companies dominated the beat. Business Services and Construction sectors saw job losses. ADP's chief economist Nela Richardson said of the January weakness, "we saw the impact of weather-related disruptions on employment during our reference week." Richardson's comments for February: "There is a tradeoff in the labor market right now. We're seeing robust hiring, which is good ... (full story)
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