ADP shows private payrolls increasing to a very strong 201K in February

ADP estimates March private payrolls rose a solid 201,000 vs their February estimate for 208,000 (revised from 217,000). Actual private payrolls rose 222,000 in February. 

The average monthly increase in employment over the past four months has been 211,000, consistent with a strong employment increases.  Challenger shows layoffs decreasing.  Consequently we should gradual decline in the unemployment rate. Economists estimate the economy has to add about 125,000 jobs a month to keep pace with population growth.

In the previous four months, the ADP gain averaged just 74,000. There has been a clear and sustained acceleration in employment and and reduction in layoffs.  Via ADP:

Nonfarm Private Employment Highlights – March Report:
Total employment: +201,000
Small businesses +102,000
Medium businesses +82,000
Large businesses +17,000
Goods-producing sector: +37,000
Service-providing sector: +164,000
Addendum: Manufacturing industry: +37,000


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