Roseland-based ADP reported Wednesday that private sector employment increased by 139,000 jobs from January to February according to the February ADP National Employment Report.
According to the report, small businesses created 59,000 jobs, accounting for 43 percent of employment gains across all sized groups. Within small businesses, 54 percent of the growth was from companies having between 1 and 19 employees. Medium businesses accounted for more than 35,000 new jobs, and large businesses created more than 44,000.
Although the number of regional jobs added may seem like a promising number, it was “well below the average over the last 12 months,” Carlos Rodriguez, president and CEO of ADP said.
Franchises accounted for 16,520 new jobs, but it was “less than half the number created in December 2013,” Ahu Yildirmaz, senior director of the ADP Research Institute said.
By sector, goods-producing employment rose by 19,000, up from 12,000 in January. Nearly all the growth came from the construction industry which added 14,000 jobs over the month. Service-providing industries added 120,000 jobs, up from 116,000 last month.
New Jersey, along with Arizona and Washington showed the strongest growth rate in January, according to the ADP Regional Employment Report:
New Jersey added 8,320 private sector jobs in January, which was the strongest monthly job growth rate since December 2012.
“February was another soft month for the job market. Employment was weak across a number of industries. Bad winter weather, especially mid-month, weighed on payrolls. Job growth is expected to improve with warmer weather temperatures,” Mark Zandi, chief economist of Moody’s Analytics said.
The national employment report is produced in collaboration with Moody’s Analytics. It is derived from ADP’s payroll data, measures the changes in total nonfarm private employment each month on a seasonally-adjusted basis, an ADP announcement said.
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