ADP News Release (03/02/22)
Private sector employment increased by 475,000 jobs from January to February, according to the February ADP National Employment Report.
“Hiring remains robust but capped by reduced labor supply postpandemic. Last month large companies showed they are well-poised to compete with higher wages and benefit offerings, and posted the strongest reading since the early days of the pandemic recovery,” said Nela Richardson, chief economist, ADP. “Small companies lost ground as they continue to struggle to keep pace with the wages and benefits needed to attract a limited pool of qualified workers.”