Wednesday, March 02, 2011

ADP: Private Employment increased by 217,000 in February

by Calculated Risk on 3/02/2011 08:15:00 AM

ADP reports:

Private-sector employment increased by 217,000 from January to February on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The estimated change of employment from December 2010 to January 2011 was revised up to 189,000 from the previously reported increase of 187,000.

This month’s ADP National Employment Report suggests continued solid growth of nonfarm private employment early in 2011. The recent pattern of rising employment gains since the middle of last year was reinforced by today’s report, as the average gain from December through February (217,000) is well above the average gain over the prior six months (63,000).
Note: ADP is private nonfarm employment only (no government jobs).

This was above the consensus forecast of an increase of about 180,000 private sector jobs in February.

The BLS reports on Friday, and the consensus is for an increase of 180,000 payroll jobs in February, on a seasonally adjusted (SA) basis, and for the unemployment rate to increase slightly to 9.1%.