ADP National Employment Report shows US added 57,000 private sector jobs in February

Manufacturing News, Source : The Manufacturer US
Published : 07 Mar 2007 13:50

ROSELAND, New Jersey – March 7, 2007 – Private sector employment increased by 57,000 in February, according to today’s ADP National Employment Report. Beginning today, the ADP National Employment Report will be developed from a significantly larger sample of anonymous payroll data, and will utilize more advanced data filtering and seasonal adjustment procedures. The ADP Report also has been broadened to now include additional detail on nonfarm private employment by select industry sectors and by company size.

Nonfarm Private Employment Highlights – February Report:

Total employment: +57,000

Small businesses* +53,000

Medium businesses** +33,000

Large businesses*** -29,000

Goods-producing sector: -43,000

Service-providing sector: +100,000

Addendum:

Manufacturing industry: -29,000

* Small businesses represent payrolls with 1-49 employees

** Medium businesses represent payrolls with 50-499 employees

*** Large businesses represent payrolls with more than 499 employees

“Today marks an exciting milestone for the ADP National Employment Report,” said Gary Butler, President and CEO, ADP. “We have made the ADP Report more comprehensive with the addition of monthly employment data by industry and company size, thus providing economists, financial professionals, and government policy makers with new and valuable information about the national labor market.”

“Private nonfarm employment grew a modest 57,000 from January to February of 2007 on a seasonally adjusted basis, according to the ADP National Employment Report,” said Joel Prakken, Chairman of Macroeconomic Advisers, LLC. “This month’s ADP National Employment Report suggests employment in February grew somewhat less than the recent three month average increase in employment of 99,000, as estimated by the ADP National Employment Report.”

Prakken added, “Continuing recent trends, employment in the service-providing sector of the economy advanced 100,000, while employment in the goods-producing sector, which includes the construction industry, declined by 43,000. Employment in manufacturing industries fell by 29,000.”

“Other new detail in The ADP Report shows that employment at small and medium size businesses employing less than 500 workers grew 86,000, while employment at larger businesses declined 29,000. Over the last six months, small and medium size businesses accounted for most of the growth in private nonfarm employment,” said Prakken.

Comments on this story

click here to add a comment