America's companies added 475,000 jobs last month, the ADP employment report said on Wednesday.
That was nearly 90,000 more positions than economists had expected and a sharp reversal from January, when ADP initially posted a surprise drop in jobs.But the better-than-expected February numbers took a backseat to some significant revisions of the previous months.Following in the footsteps of the Labor Department, ADP revised and benchmarked its numbers for 2021, said ADP chief economist Nela Richardson on a press call on Wednesday.
But rather than losing faith in economists' ability to forecast, we must keep perspective, Richardson urged:"What it requires is that we focus on trend changes rather than one month or one data point," she said.America's return-to-office could mean yet another round of resignationsLast year, the US economy still added more than six million jobs and 2022 is expected to be another strong year for the labor market as employers continue to struggle with a shortage of workers.
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