Particle.news
Download on the App Store
9 ARTICLES
·
2mo ago

U.S. Private Sector Job Growth Falls Sharply in February, Raising Economic Concerns

ADP reports just 77,000 jobs added, the smallest increase since July, as businesses hesitate to hire amidst tariff and economic uncertainty.

Hiring by US private-sector companies fell sharply in February, much more than economists had expected.
An employee hiring sign with a QR code is seen in a window of a business in Arlington, Virginia, U.S., April 7, 2023. REUTERS/Elizabeth Frantz/ File Photo
Workers install window decorations at a store in San Francisco in November 2024.

Overview

  • Private employers added only 77,000 jobs in February, significantly below economists' expectations of 140,000 to 170,000 jobs.
  • The slowdown marks the smallest monthly job growth since July, following an upwardly revised 186,000 jobs added in January.
  • Job losses were concentrated in trade, transportation, utilities (-33,000), education and health services (-28,000), and information services (-14,000).
  • Leisure and hospitality led gains with 41,000 new jobs, while construction added 26,000 and manufacturing grew by 18,000 positions.
  • Economists attribute the hiring slowdown to policy uncertainty, including new tariffs, and declining consumer spending, raising fears of potential stagflation.