Key jobs measure says America added 475,000 positions in February, beating expectations

That was nearly 90,000 more positions than economists had expected and a sharp reversal from January, when ADP initially posted a surprise drop in jobs. Wednesday’s data also included a significant revision of that January decline, revising it up to 509,000 jobs added from 301,000 jobs lost reported last month.

The ADP report tracks private sector employment and is not correlated to the government’s official jobs tally, which is due Friday morning. Even so, the private payrolls report is closely watched and considered a bellwether for America’s labor market.

This is a developing story. It will be updated

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