U.S. Private Sector Adds 198,000 Jobs In February, More Than Expected
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WASHINGTON -- A private survey shows U.S. businesses added a solid number of jobs in February, indicating higher taxes and looming government spending cuts have yet to slow hiring.
Payroll processor ADP says employers added 198,000 jobs in February. And the survey revised January's hiring figures to show companies added 215,000 jobs that month, 23,000 more than what had initially been reported. The ADP report is derived from actual payroll data and tracks total nonfarm private employment each month. The hiring suggests that higher taxes and looming government spending cuts didn't discourage employers from adding jobs.
The report suggests that the government's February jobs report, to be issued Friday, may come in above economists' forecasts. Analysts expect it will show a gain of 152,000 jobs.
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