Businesses added 214,000 jobs in February, payroll processor ADP said Wednesday, in a possible sign that the government this week will report a rebound in employment growth that allays fears of a slowing economy.
Economists surveyed by Bloomberg estimated ADP would record 185,000 new jobs. They project the Labor Department’s survey of the public and private sectors, due out Friday, will tally 195,000 job gains.
“Despite the turmoil in the global financial markets, the American job machine remains in high gear,” said Mark Zandi, chief economist of Moody’s Analytics, which helps ADP compile the report.
