National employment grew by 475K jobs in February, ADP says

February saw the nation’s employment level rise, according to the monthly ADP National Employment Report, as the private sector added 475,000 jobs.

Post-pandemic, hiring remains robust, but capped by reduced labor supply.

“Last month, large companies showed they are well-poised to compete with higher wages and benefit offerings and posted the strongest reading since the early days of the pandemic recovery,” said Nela Richardson, chief economist, ADP. “Small companies lost ground as they continue to struggle to keep pace with the wages and benefits needed to attract a limited pool of qualified workers.”

In terms of company size, small businesses fared the worst, losing 96,000 jobs. Medium-sized firms of 50-499 employees added 18,000 jobs, while large businesses gained a whopping 552,000 positions.

Looking at where these positions were added, the service-providing sector led the way with 417,000 positions filled; leisure and hospitality saw a 170,000-slot increase, while education and health services saw 40,000 jobs added.

In the goods-producing sector, construction added 26,000 jobs while manufacturing increased by 30,000.