U.S. private-sector hiring is slowing: ADP
The numbers: Private-sector employment has “throttled back” in February, according to data released Wednesday. Employers added 183,000 jobs in February, compared with a revised 300,000 in January, ADP reported Wednesday. The gain in February was close to forecasts from economists who expected a gain of 180,000.
Big picture: Michael Feroli, chief economist at JPMorgan Chase, notes that ADP has been on a “hot streak” recently, with the first print of the ADP report closer to the Labor Department’s estimate of private payroll growth for the month than the consensus forecast produced by Bloomberg.
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