Business

Jobs report indicates more hiring

WASHINGTON — A private survey shows US businesses added a solid number of jobs in February, indicating higher taxes and looming government spending cuts have yet to slow hiring.

Employers added 198,000 jobs in February, according to data released Wednesday by payroll processor ADP. And the survey revised January’s hiring figures show companies added 215,000 jobs that month, 23,000 more than what had initially been reported.

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The figure suggests that the government’s February jobs report, to be issued Friday, may come in above economists’ forecasts. Analysts expect it will show the economy added 152,000 jobs and the unemployment rate dipped to 7.8 percent from 7.9 percent in January.

Joseph LaVorgna, chief US economist at Deutsche Bank, boosted his forecast to 180,000 jobs, up from 125,000, in response to the ADP report.

Associated Press

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