Survey: US businesses added a solid 183,000 jobs last month

WASHINGTON (AP) — U.S. businesses added a solid 183,000 jobs in February, a private survey found, a sign that companies are continuing to hire even as economic growth is likely slowing.

Payroll processor ADP said Wednesday that last month’s job gains were down from the 300,000 added in January, a figure that was revised up sharply from 213,000. It was also below last year’s average monthly gain of about 235,000.

Hiring occurred across all major industries tracked by ADP, including professional and business services, which includes high-paying fields such as accounting and engineering, and which gained 49,000 jobs. Education and health care added 37,000. Construction gained 25,000 jobs and manufacturing 17,000.

Mark Zandi, chief economist at Moody’s Analytics, a forecasting firm that compiles the ADP data, said that hiring slowed a bit because the economy is cooling. Still, he expects companies to keep adding jobs because growth will likely recover from the first-quarter slowdown.

“The economy has throttled back and so too has job growth,” Zandi said. But, he added, “I don’t expect businesses will turn off hiring.”

Trending:
After Fauci Email Proves Link with Zuckerberg, House Republicans Hit Facebook with One Demand That Could Change Everything

The ADP covers only private businesses and often diverges from official figures, which also include government hiring. The government is scheduled to release its employment report Friday, which analysts forecast will also show a gain of 183,000 jobs, according to data provider FactSet. The unemployment rate is expected to drop to 3.9 percent, from 4 percent.

Employers ramped up hiring last year to its fastest pace in three years, as growth also picked up in the wake of the Trump administration’s tax cuts and increased government spending approved by Congress last spring.

Yet the administration’s trade fight with China, a weaker global economy and the waning of the tax cut’s impact have slowed growth in recent months. Economists forecast the economy will expand at roughly a 1 percent annual rate in the first three months of this year, down from 2.6 percent in the fourth quarter.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Truth and Accuracy

Submit a Correction →



We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

Tags:
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands.
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
Location
New York City




Conversation