Overview
- ADP said private payrolls rose by 63,000 in February after revising January’s gain down to 11,000.
- Education and health services added 58,000 jobs and construction added 19,000, while professional and business services fell by 30,000 and manufacturing by 5,000.
- Pay growth held at 4.5% for job‑stayers and slowed to 6.3% for job‑changers, with ADP noting a record‑low pay premium for switching employers.
- Small firms drove hiring, with establishments of 1–19 employees adding 58,000 jobs; medium‑sized firms cut 7,000 as large employers added 10,000.
- The South led regional gains with 37,000 additions, and ADP—produced with the Stanford Digital Economy Lab—remains an imperfect guide to the BLS report due Friday.