Bloomberg (03/06/13) Shobhana Chandra
Private-sector employment in February beat expectations, as the economy gained 198,000 private jobs, Automatic Data Processing Inc. reported today. The median forecast of 41 economists surveyed by Bloomberg called for an advance of 170,000. Sustained hiring by businesses, even as lawmakers in Washington were sparring over budget reductions, signals there is enough demand to support consumer spending. A U.S. Department of Labor report this week may show private payrolls rose by 167,000 last month, according to the Bloomberg survey median.