A full 2 days before the Bureau of Labor Statistics is set to release data for the month of February, ADP has released their own report on jobs exclusively in the private sector. While some criticize the company’s findings, they are generally on the money and are always on the right side of where a trend is headed. So enough with the preamble. In February, the private sector added 198,000 Non-Farm Payroll jobs total. The services sector continues to make up the majority of hires being made in this recovery with 164,000 total jobs added last month. What is encouraging for the economy is that small businesses accounted for the largest number of hires (77,000). In fact, 47,000 of these hires were made in businesses with fewer than twenty total employees. Medium-sized businesses (50-499 employees) added 65,000 jobs and Large businesses(500+ employees) added 57,000 jobs. What all this hiring also adds up to is a drop in unemployment to 7.8% nationally. To read the ADP report, click the link below.
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