US employers added 216,000 workers to their payrolls during February, according to the latest survey, adding hopes of sustained recovery in the world’s largest economy.
The February 2012 ADP National Employment Report says 170,000 jobs were created in the US service industry during February, while the good-producing sector added 46,000 workers.
Although below the consensus forecast of a 225,000 increase in the government’s private non-farm payrolls data due out on Friday, ADP’s report shows job creation has increased from the 173,000 seen in January.
Carlos Rodriguez, president and chief executive of business outsourcing provider ADP, says: “For February, virtually every sector of the economy added jobs – something I hope will continue for the rest of 2012.”
The increase is the 25th monthly gain in a row in ADP’s report and suggests that conditions in the US labour market are stabilising. This is likely to lead to improvement in household spending, which accounts for about 70% of US economic activity.