Report shows February private jobs rose, but growth was concentrated

Private employers added 63,000 jobs in February, beating expectations but showing weak overall hiring, according to ADP. 

The figure improved from January’s downwardly revised 11,000 jobs and topped the 48,000 estimate from Dow Jones.

Most hiring came from education and health services, adding 58,000 jobs, and construction offering 19,000 roles.

Several industries lost jobs, including professional and business services, which cut 30,000 positions, and manufacturing, which lost 5,000 jobs.

Wages rose 4.5% for workers who stayed in their jobs, while pay for job switchers slowed to 6.3%, reducing the incentive to change employers.

Small businesses with fewer than 50 employees created 60,000 jobs, while mid-size firms cut positions.

The report comes ahead of the February jobs data from the Bureau of Labor Statistics, where economists expect 50,000 new jobs and unemployment to remain at 4.3%.