 "Weather restrains US pvt hiring, services sector growth")
US private employers added fewer workers than expected in February and services sector growth slowed, the latest signs that severe weather continues to be a drag on the economy.
The ADP National Employment Report showed on Wednesday that private payrolls increased by 139,000 jobs last month. January's job count was revised sharply down to 127,000 from the previously reported 175,000.
Last month's increase was below economists' expectations for a gain of 160,000 jobs.
A reading above 50 signals economic expansion, and the result was better than Markit's preliminary "flash" reading of 52.7 released last week.
The ADP National Employment Report showed on Wednesday that private payrolls increased by 139,000 jobs last month. January's job count was revised sharply down to 127,000 from the previously reported 175,000.
Last month's increase was below economists' expectations for a gain of 160,000 jobs.
Also Read
In a separate report, financial data firm Markit said its final service sector purchasing managers' index fell to 53.3 last month from 56.7 in January.
A reading above 50 signals economic expansion, and the result was better than Markit's preliminary "flash" reading of 52.7 released last week.