Economy

Private payrolls growth well short of expectations for February

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Private payroll growth disappointed in February despite otherwise encouraging signs of economic growth, according to a report Wednesday from ADP.

Companies added just 117,000 positions for the month, well below the 225,000 forecast from economists surveyed by Dow Jones.

The total also represented a sharp decline from the upward revised 195,000 jobs in January.

The ADP report “is a disappointment given that the drop-off in coronavirus case numbers and the resulting lifting of containment measures should be giving the economy a bigger shot in the arm,” said Paul Ashworth, chief U.S. economist at Capital Economics.

The weak ADP reading comes despite solid projections for economic growth in the…



Source cnbc.com

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