From ADP: ADP National Employment Report: Private Sector Employment Increased by
77,000 Jobs in February; Annual Pay was Up 4.7%
77,000 Jobs in February; Annual Pay was Up 4.7%
“Policy uncertainty and a slowdown in consumer spending might have led to layoffs or a slowdown in
hiring last month,” said Nela Richardson, chief economist, ADP. “Our data, combined with other recent
indicators, suggests a hiring hesitancy among employers as they assess the economic climate ahead.”
emphasis added
This was below the consensus forecast of 140,000. The BLS report will be released Friday, and the consensus is for 158,000 non-farm payroll jobs added in February.