Economics
U.S. Companies Add Fewer Jobs Than Forecast, ADP Data Show
- Private payrolls rose by 117,000 in February, led by services
- Figure restrained by decline in manufacturing employment
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The number of employees at U.S. businesses rose in February by less than expected, underscoring the labor market’s struggle to recover despite a decline in Covid-19 infections in recent weeks.
Company payrolls rose by 117,000 during the month, according to ADP Research Institute data released Wednesday. The median projection in a Bloomberg survey of economists called for an increase of 205,000. The prior month was revised up to a 195,000 advance.