Investing.com – U.S. non-farm private employment rose more-than-expected in February, industry data showed on Wednesday.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 217K in February, after rising by 189K in January, whose figure was revised up from 187K.
Analysts had expected non-farm private sector employment to increase by 175K in February.
The report said employment in the service-providing sector rose by 202K in February, marking thirteen consecutive months of employment gains. Employment in the goods-producing sector increased by 15K, the fourth consecutive monthly gain. Manufacturing employment rose 20K, the fifth consecutive monthly gain.
According to the report, the recent pattern of rising employment gains since the middle of 2010 appears to be intact, as the average gain over December through February (217K) was well above the average gain over the prior six months (63K).
Following the release, the U.S. dollar was down against the euro, with EUR/USD gaining 0.26% to hit 1.3813.
Meanwhile, the outlook for U.S. equity markets was modestly downbeat. The Dow Jones Industrial Average futures indicated a decline 0.04%, S&P 500 futures pointed to a drop of 0.08%, while the Nasdaq 100 futures were down 0.17%.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 217K in February, after rising by 189K in January, whose figure was revised up from 187K.
Analysts had expected non-farm private sector employment to increase by 175K in February.
The report said employment in the service-providing sector rose by 202K in February, marking thirteen consecutive months of employment gains. Employment in the goods-producing sector increased by 15K, the fourth consecutive monthly gain. Manufacturing employment rose 20K, the fifth consecutive monthly gain.
According to the report, the recent pattern of rising employment gains since the middle of 2010 appears to be intact, as the average gain over December through February (217K) was well above the average gain over the prior six months (63K).
Following the release, the U.S. dollar was down against the euro, with EUR/USD gaining 0.26% to hit 1.3813.
Meanwhile, the outlook for U.S. equity markets was modestly downbeat. The Dow Jones Industrial Average futures indicated a decline 0.04%, S&P 500 futures pointed to a drop of 0.08%, while the Nasdaq 100 futures were down 0.17%.