U.S. non-farm private-sector employment up 14 percent in February
U.S. non-farm private employment in February increased 14 percent over the previous month with a whopping 298,000 jobs added, according to the monthly ADP National Employment Report published every month with the help of researchers at Moody’s Analytics.
“These numbers are really good, and we’re hoping that they translate into hiring and spending and all those good things that will make the economy grow even faster,” National Federation of Independent Business Chief Economist Bill Dunkelberg tells Marketplace.org.
One-hundred-and twenty-two-thousand of the nearly 300,000 jobs added fall within the “midsized” category of employers – workplaces with anywhere from 50 to 499 employee – while small businesses accounted for 104,000 of the jobs added in February.
The service industry – like trade, transportation, information technology, finance, health, education, etc. – saw the biggest uptick with 193,000 of the 298,000 jobs added. The “good-producing sector,” which includes construction, manufacturing and natural resources and mining comprise the remaining 106,000 jobs added in February.