February private-sector jobs rise 216K: ADP

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February private-sector jobs rise 216K: ADP (by Ruth Mantell)

WASHINGTON (MarketWatch) -- Private-sector payrolls increased 216,000 in February, led by the service-providing sector and small businesses, according to the ADP employment report released Wednesday. The January gain was revised to 173,000 from a prior estimate of 170,000. Markets look to ADP's report on private-sector payrolls to provide some guidance on the U.S. Labor Department's jobs estimate, which will be released Friday and includes information on both private- and public-sector payrolls. Economists polled by MarketWatch expect the Labor Department to report Friday that nonfarm payroll employment rose 213,000 in February, compared with 243,000 in January. They also expect that the unemployment rate remained at 8.3%.

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