The non-farm private sector gained 117,000 jobs in February, according to the ADP National Employment Report. This follows a revised January increase of 195,000 jobs.
Small businesses with fewer than 50 employees gained 32,000 jobs. Medium-sized businesses with 50-499 employees gained 57,000, while large businesses increased by 28,000 jobs.
“The labor market continues to post a sluggish recovery across the board,” said Nela Richardson, chief economist, ADP. “We’re seeing large-sized companies increasingly feeling the effects of COVID-19, while job growth in the goods producing sector pauses. With the pandemic still in the driver’s seat, the service sector remains well below its pre-pandemic levels; however, this sector is one that will likely benefit the most over time with reopening’s and increased consumer confidence.”
Service-providing employment led the increase with 131,000 jobs gained, driven by the education & health and trade and transportation & utilities sectors, which rose by 35,000 and 48,000 jobs respectively.
Goods-producing employment fell by 14,000 jobs. The manufacturing sector lost 14,000 jobs and construction fell by 3,000 jobs. Natural resources/mining saw a gain of 3,000 jobs.
Read the ADP report.
