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sahputra19
2023-03-08

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U.S. Private Payrolls Rose By 242,000 in February, Better Than Expected, ADP Says

U.S. private payrolls increased more than expected in February, pointing to continued labor market s

U.S. Private Payrolls Rose By 242,000 in February, Better Than Expected, ADP Says

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Data for January was revised higher to show 119,000 jobs added instead of 106,000 as previously reported. Economists polled by Reuters had forecast private employment increasing 200,000.</p><p>Federal Reserve Chair Jerome Powell told lawmakers on Tuesday that the U.S. central bank would likely need to raise interest rates more than expected and opened the door to a half-point rate hike this month to combat inflation, following a recent raft of strong economic data.</p><p>Job growth was robust in January, with the unemployment rate falling to more than a 53-1/2-year low of 3.4%. Consumer spending rebounded strongly and inflation picked up in January.</p><p>The ADP report, jointly developed with the Stanford Digital Economy Lab, was published ahead of the Labor Department&#39;s Bureau of Labor Statistics&#39; more comprehensive and closely watched employment report for February on Friday.</p><p>It has not been a reliable gauge in forecasting private payrolls in the BLS employment report. The ADP initially reported 106,000 private jobs were created in January, a fraction of the 443,000 surge in private payrolls estimated by the BLS.</p><p>&#34;More broadly, in the several months since the ADP data started being released with a new methodology, the first prints have not reliably predicted the first prints of the related BLS data,&#34; said Daniel Silver, an economist at JPMorgan in New York.</p><p>According to a Reuters survey of economists, private payrolls likely increased by 213,000 jobs in February. Total nonfarm payrolls are forecast rising by 203,000 jobs last month after surging 517,000 in January.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Private Payrolls Rose By 242,000 in February, Better Than Expected, ADP Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Private Payrolls Rose By 242,000 in February, Better Than Expected, ADP Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-08 21:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/u-private-payrolls-increase-february-132022880.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. private payrolls increased more than expected in February, pointing to continued labor market strength.Private employment increased by 242,000 jobs last month, the ADP National Employment report ...</p>\n\n<a href=\"https://finance.yahoo.com/news/u-private-payrolls-increase-february-132022880.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://finance.yahoo.com/news/u-private-payrolls-increase-february-132022880.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1110070603","content_text":"U.S. private payrolls increased more than expected in February, pointing to continued labor market strength.Private employment increased by 242,000 jobs last month, the ADP National Employment report showed on Wednesday. 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