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US companies added far fewer jobs than forecast in February, ADP says

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Payroll growth has steadily improved after unexpectedly declining in December. Soaring COVID-19 cases and strict economic lockdowns through the winter halted the labor market's recovery, but an improving backdrop opens the door for fresh gains in the spring.

Small businesses added 32,000 payrolls through the month, while large businesses took on 28,000 payrolls. Medium businesses — those with 50 to 499 employees — made up the bulk of the February gains with 57,000 additions.

 

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