Expectations for the report were lifted Wednesday after the ADP reported private sector payroll increase of 217,000 in February. The Labor Department said Thursday initial jobless claims for the week ended Feb. 26 dropped 20,000 to 368,000, their lowest level since May 2008.
Economists were expecting a strong rebound in February , reversing the impact of severe weather on jobs in January. The consensus called for private sector job growth of 198,000, according to estimates from Briefing.com.Even as different sections of the economy show signs of returning strength (both manufacturing and services data reported earlier this week were stronger-than-expected), the payrolls data hadn't shown a significant recovery in the job market. -- 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 http://twitter.com/shavenk. >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV