US private sector payrolls grow less quickly than expected in February, ADP says

Private sector employment in the States grew a tad less quickly than anticipated last month, the results of a closely-followed survey revealed.

According to consultancy ADP, private sector payrolls increased by 117,000 in February (consensus: 165,000).

Hiring was strongest among medium-sized corporates, or those with between 50-499 staff, which took on 57,000 new hires.

Smaller companies, or those with between 1-49 employees, hired 32,000 people, while large firms, or those with a headcount of more than 500 hired just 28,000.

The services sector accounted for all hiring, with a 131,000 increase in payrolls, while the goods sector shed 14,000 staff.

Education and Health (35,000), Professional and business (22,000), Leisure and hopsitality (26,000) registered the biggest increases in employment.