GO
Loading...

Enter multiple symbols separated by commas

Private Sector Added Fewer Jobs Than Expected-ADP

U.S. private employers likely added 57,000 new jobs in February, according to a survey by ADP Employer Services, a private employment service, released on Wednesday.

The reading was lower than a median forecast of 90,000 for the ADP survey from economists, and added to a revised 121,000 increase in employment shown by the series in the previous month.

The revision was due to a change in methodology for all data going back to January 2001 for the monthly survey done by ADP and Macroeconomic Advisers LLC. The February 2007 report is the first regularly released ADP Report to incorporate those key methodology changes, ADP said. Among the changes ADP made to the survey was to increase its sample size, and add additional detail.

Small- and medium-sized businesses accounted for all of the increase, said Joel Prakken, chairman of Macroeconomic Advisers, in an interview on CNBC's "Squawk Box."

"Large firms are under increased global competitive pressure," Prakken said.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • CNBC's Phil Han reports on the two candidate cities vying for the 2022 winter Olympics and who might have the lead.

  • Piper Hoppe, 10, from Minnetonka, Minnesota, holds a sign at the doorway of River Bluff Dental in Bloomington, Minnesota, on July 29, 2015, during a protest against Cecil's killing.

    The U.S. Fish and Wildlife Service has been trying to find the man who shot a lion in Zimbabwe, but he is not responding.

  • Donald Trump

    From one real estate mogul about another: Don't underestimate Republican presidential candidate Donald Trump.

U.S. Video