ADP, the automated payroll firm, released its National Employment Report yesterday detailing economic activity for February. The news continues to be positive with employment gains continuing, a hopeful sign that the nation may be in full recovery mode. The numbers bode well for President Obama as his re-election campaign gears up and Republicans working to make the economy the central issue of the presidential contest.
According to the ADP report the nation’s economy added 216,000 jobs in the nonfarm private sector. Employment in the service-providing sector gained 170,000 jobs and the goods-producing sector added 46,000 jobs in February. Another good sign, according to the report, is the manufacturing sector gained 21,000 jobs last month.
The small business sector – with payrolls of up to 49 workers – showed the most growth in February, adding 108,000 jobs. Among small businesses, 90,000 of the new jobs were in the service-producing sector and 18,000 jobs were in the goods-producing sector. Medium sized payrolls - those with between 50 and 499 worker - added 88,000 jobs last month. Job growth among large businesses – firms with 500 or more workers – increased their payrolls by 20,000 workers in February.
The monthly ADP report precedes the monthly Bureau of Labor Statistics official Employment Situation Summary detailing the nation’s employment picture that will be released on Friday morning.