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ADP Report Shows Sharp Decline in U.S. Private Sector Job Growth for February

Private employers added just 77,000 jobs last month, the smallest increase since July, raising concerns about economic slowdown and hiring hesitancy.

Hiring by US private-sector companies fell sharply in February, much more than economists had expected.
An employee hiring sign with a QR code is seen in a window of a business in Arlington, Virginia, U.S., April 7, 2023. REUTERS/Elizabeth Frantz/ File Photo
Workers install window decorations at a store in San Francisco in November 2024.

Overview

  • February's private sector job growth of 77,000 fell significantly short of economists' expectations of around 140,000 to 148,000 jobs.
  • The ADP report highlights hiring hesitancy among employers, potentially driven by policy uncertainty and slowing consumer spending.
  • Key sectors such as trade, transportation, utilities, education, and health services saw notable job losses, while leisure, hospitality, and professional services experienced gains.
  • Wage growth for job stayers remained steady at 4.7%, but the wage premium for job changers dropped to its lowest level in over three years at 6.7%.
  • The ADP report precedes the Labor Department's upcoming nonfarm payrolls data, which is expected to show broader employment trends for February.