183,000 Jobs Added in February

The non-farm private sector added 183,000 jobs in February, according to the ADP National Employment Report. This followed a 291,000 job increase in January.

Small businesses with fewer than 50 employees gained 24,000 jobs. Medium-sized businesses with 50-499 employees created 26,000, while large businesses added 133,000 jobs.

““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.“Job creationremained heavily concentrated inlarge companies, which continue to be the strongest performer.”

Service-providing employment rose by 172,000 jobs, driven by the Leisure/hospitality services and Education/health services, which added 44,000 and 46,000 respectively. Goods-producing employment grew by 11,000 jobs. The manufacturing and construction industries lost 4,000 and gained 18,000 jobs respectively. Natural Resources/mining decreased by 3,000 jobs.

Read the ADP report.

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Hugo Dante

Hugo Dante is an economist in Washington, D.C. He was previously an economic research specialist at ABA. In addition to the ABA Banking Journal, his writing has appeared in The Hill, The National Interest and Townhall. Views expressed here are his own.