Economists
surveyed by Reuters had forecast the ADP National Employment Report
would show a gain of 190,000 jobs, with estimates ranging from 160,000
to 225,000.
Private payroll gains in the month earlier were revised down to 193,000 from an originally reported 205,000 increase.
The report is jointly developed with Moody's Analytics.
"It's
still a very strong report. The jobs market is very healthy," Moody's
Analytics' chief economist Mark Zandi said on a conference call with
reporters.
If companies continue to expand their payrolls, the economy would achieve full employment by mid-year, he said.
The
ADP figures come ahead of the U.S. Labor Department's more
comprehensive non-farm payrolls report on Friday, which includes both
public and private-sector employment.
Economists
polled by Reuters are looking for U.S. private payroll employment to
have grown by 185,000 jobs in February, up from 158,000 the month
before. Total non-farm employment is expected to be 190,000.
The unemployment rate is forecast to stay steady at 4.9 percent, unchanged from a month earlier.
While
overall job conditions in the private sector showed strength last
month, there were a few worrying signs, according to ADP.
Manufacturers
shed 9,000 jobs, which was the second biggest decline in five years,
while the financial sector added 8,000 workers which were the fewest
hires since August 2015.
By: Reuters (New York).
Reporting: Richard Leong.
Editing: Chizu Nomiyama.
Review: Emerging Market Formulations &
Research Unit, Flagship Records.
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