According to the ADP National Employment Report for February, 20245, private sector employment increased by 77k jobs and annual pay was up 4.7% year-over-year. The ADP National Employment Report is an independent and high-frequency view of the private-sector labor market based on the aggregated and anonymized payroll data of more than 25 million U.S. employees.
“Policy uncertainty and a slowdown in consumer spending might have led to layoffs or a slowdown in hiring last month…Our data, combined with other recent indicators, suggests a hiring hesitancy among employers as they assess the economic climate ahead.” Said ADP chief economist Nela Richardson.
Click here to read the full report at ADP.
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