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- U.S. private employers add 183,000 jobs in February
U.S. private employers add 183,000 jobs in February
The employment report prepared by Automatic Data Processing Inc. (ADP) and Moody's Analytics showed on Wednesday the U.S. private employers added 183,000 jobs in February. That was the lowest monthly jobs gain since November 2018.
Economists had expected a gain of 189,000.
The increase for January was revised up to 300,000 from 213,000.
“We saw a modest slowdown in job growth this month,” noted Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Midsized companies have been the strongest performer for the past year. There was a sharp decline in small business growth as these firms continue to struggle with offering competitive wages and benefits.”
Meanwhile, Mark Zandi, chief economist of Moody’s Analytics, said, “The economy has throttled back and so too has job growth. The job slowdown is clearest in the retail and travel industries, and at smaller companies. Job gains are still strong, but they have likely seen their high watermark for this expansion.”
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