This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ADP: February Payrolls Rise 217,000

NEW YORK ( TheStreet) -- Companies added more jobs than expected in February, setting up expectations for a strong nonfarm payrolls report on Friday.

The ADP National Employment Report said early Wednesday that private sector employment increased by 217,000 in February on a seasonally adjusted basis. The estimated change of employment from December 2010 to January 2011 was revised up to 189,000 from the previously reported increase of 187,000. Economists were expecting a private sector employment addition of 165,000 according to consensus estimates from

The average gain since December in private sector jobs stands at 217,000, higher than the average gain in the prior six months of 63,000, suggesting a strong recovery in the job market. However, the jobs report from the Bureau of Labor Statistics has shown a significantly more modest addition in payrolls in recent months, raising doubts about the pace of job growth.

Employment in the service-providing sector rose by 202,000 in February, marking 13 consecutive months of employment gains. Employment in the goods-producing sector rose 15,000, the fourth consecutive monthly gain.

Manufacturing employment rose 20,000, the fifth consecutive monthly gain. The ISM report on manufacturing on Tuesday pointed yet again to strong trends in employment.

Employment among small-size businesses, defined as those with fewer than 50 workers, increased by 100,000, a sign that business confidence is improving among small businesses.

Construction remains the weak link in the jobs market. In February, construction employment dropped 9,000. The total decline in construction employment since its peak in January 2007 is 2.1 million. Employment in the financial services sector remained flat in February.

Futures were down in premarket trading. The SPDR Dow Jones Industrial Average (DIA) was lower by 0.3%, the SPDR S&P 500 (SPY) was off by 0.08% and the PowerShares QQQ (QQQQ) was falling 0.3%.

--Written by Shanthi Bharatwaj in New York

>To contact the writer of this article, click here: Shanthi Bharatwaj.

>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
DIA $177.90 0.00%
SPY $209.56 0.00%
AAPL $117.81 0.00%
FB $105.45 0.00%
GOOG $750.26 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs