U.S. private employers add 198,000 jobs in February
BY FRANCINE KNOWLES Business Reporter firstname.lastname@example.org March 6, 2013 9:44AM
Updated: March 6, 2013 3:48PM
U.S. private sector employers added 198,000 jobs last month, surpassing expectations, according to the monthly report released Wednesday from payroll processor ADP that shows the economy continuing to pick up steam.
ADP also revised its January numbers up by 23,000 to 215,000 jobs.
The report adds to the evidence that “despite the ongoing fiscal uncertainty and the payroll tax hike, the recovery is picking up momentum,” Paul Ashworth, chief U.S. economist with Capital Economics, said in an email statement.
He noted the consensus estimate was that 170,000 jobs were added last month.
“After a worrying slow down in the middle of last year, labor market conditions have improved markedly,” Ashworth stated. “Looking at the detail for February, the gains were broad based.”
The report showed trade/transportation and utilities added 45,000 jobs, professional and business services added 35,000, construction added 21,000 and manufacturing added 9,000 jobs.
Based on company size, small businesses added the most jobs with 77,000, followed by medium-sized businesses with 65,000 and large businesses with 57,000.