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Wednesday, March 07, 2012

ADP: Private Employment increased 216,000 in February

by Calculated Risk on 3/07/2012 08:15:00 AM

ADP reports:

Employment in the U.S. nonfarm private business sector increased by 216,000 from January to February on a seasonally adjusted basis. The estimated advance in employment from December to January was revised slightly upwards to 173,000 from the initially reported 170,000.

Employment in the private, service-providing sector rose 170,000 in February, and employment in the private, goods-producing sector increased 46,000 in February. Manufacturing employment increased 21,000.
This was slightly above the consensus forecast of an increase of 200,000 private sector jobs in February. The BLS reports on Friday, and the consensus is for an increase of 204,000 payroll jobs in February, on a seasonally adjusted (SA) basis.

Government payrolls have been shrinking, so the ADP report suggests close to 200,000 nonfarm payroll jobs added in January. Note: ADP hasn't been very useful in predicting the BLS report.