U.S. Private Sector Adds 235,000 Jobs in February

03/07/18 08:46 AM EST
By Austen Hufford 

Hiring at private U.S. employers grew more than expected in February, according to a report.

Firms across the country added 235,000 workers in February, according to payroll processor Automatic Data Processing Inc. and forecasting firm Moody's Analytics.

Economists surveyed by The Wall Street Journal had expected the addition of 200,000 jobs.

"The labor market continues to experience uninterrupted growth," said Ahu Yildirmaz, vice president and co-head of ADP Research Institute, in the report.

The January figure was revised up to 244,000 from 234,000.

The ADP report is based on private-payroll data in addition to government data.

Still, the report raised concerns over employee shortages given the low unemployment rate.

"The job market is red hot and threatens to overheat," said Mark Zandi, chief economist of Moody's Analytics. "With government spending increases and tax cuts, growth is set to accelerate."

Growth came from across economic sectors, with leisure and hospitality, health care and trade and transportation driving results. Still, natural resources and mining added only 2,000 jobs and the information sector posted a 1,000 job decline.

The ADP report comes ahead of the monthly jobs report from the U.S. Bureau of Labor Statistics on Friday. Economists expect nonfarm jobs to rise by 205,000 for February, compared with 200,000 the prior month.

Write to Austen Hufford at austen.hufford@wsj.com


(END) Dow Jones Newswires

March 07, 2018 08:46 ET (13:46 GMT)

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