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Services Power Job Growth

Wall Street Journal (03/08/12) Neil Shah

U.S. companies added more workers to their payrolls in February than they did in January, according to Automatic Data Processing Inc., 170,000 of them in the services industry. A separate report by Intuit found that small companies with no more than 25 workers added 45,000 jobs in February, a 0.2% increase from January. In addition to the reports, there are other signs the economy is improving. The recovery in manufacturing and exports has spread to the services industry, and initial claims for unemployment insurance have fallen for four months.