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U S private sector adds 214,000 jobs in February 2016

1,469 views · Published 3 March 2016 · 4:06 · Indexed 20 October 2026

Channel: The 2% Brief · 2016 · People & Blogs

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U S  private sector adds 214,000 jobs in February 

Today is Thursday 3rd March 2016 and we are commenting on the ADP Jobs report announced yesterday.

U.S. private employers added 214,000 jobs in February, above economists' expectations, suggesting solid job growth despite market turmoil and worries about a slowing global economy. It was forecast that the gain would be around 190,000 jobs.

Private payroll gains in January were revised down to 193,000 from an originally reported 205,000 increase.

Moody's Analytics' chief economist Mark Zandi said "It's still a very strong report. The jobs market is very healthy……If companies continue to expand their payrolls, the economy would achieve full employment by mid-year”.

The ADP figures come ahead of the U.S. Labour Department's more comprehensive non-farm payrolls report due on Friday, which includes both public and private-sector employment. Economists predict a rise in the February report to 190,000 jobs compared to 158,000 in January. The unemployment rate is forecast to stay steady at 4.9 percent, unchanged from a month earlier.

Despite apparent strength, ADP reported some concerns:  Manufacturers shed 9,000 jobs, which was the second largest decline in five years, while the financial sector added 8,000 workers which were the fewest hires since August 2015. Naturally one must also observe the number of part-time jobs compared with full time positions to help gain a better understanding of the true position.

A positive report on Friday may indeed suggest that a rate rise sometime this year is possible, though as we have said in previous videos this is not likely to occur for many months, if it does at all. We expect some but not significant reaction in the price of gold and silver towards the end of the week around this report announcement.

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