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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
Updated on

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.