Economics
U.S. Job Growth More Than Forecast in February, ADP Data Show
- Private payrolls up 475,000 in February after sizable revision
- Small companies struggling more than large ones in wage battle
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U.S. companies in February added more jobs than forecast as Covid-19 cases dropped and restrictions eased, encouraging more Americans to work.
Businesses’ payrolls rose by 475,000 last month, according to ADP Research Institute data released Wednesday. The median forecast in a Bloomberg survey of economists called for a 375,000 rise. The initial January print showed a 301,000 plunge in the month, the worst since April 2020, but was revised up to a 509,000 gain.