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Macro EconomyMediumUpdated×3•Originally published 4 March 2026•Updated 4 March 2026•

1 min read

US Private Sector Adds 63,000 Jobs in February as Job-Switcher Pay Premium Hits Record Low

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Key Facts

1US private sector employment increased by 63,000 jobs in February.

3 months ago

Version History

Version 33 months ago

What changed: Updated to include details on slowing wage growth, the record-low pay premium for job switchers, sector-specific declines in professional services, and the latest NFP forecasts.

Version 23 months ago

What changed: Updated the growth timeframe to a seven-month high and incorporated the qualitative description of the labor market as 'sluggish' despite the slight pickup.

Version 13 months ago

What changed: The story was updated to clarify that job growth beat estimates and hit a 4-month high, while also noting the significant downward revision to January data and identifying the key sector drivers.

The US private sector added 63,000 jobs in February, according to the ADP National Employment Report, exceeding expectations despite a sharp downward revision of January's data from 22,000 to 11,000. While health services and construction drove hiring, the report noted modest declines in manufacturing and trade, alongside a larger drop in professional and business services. Significantly, annualized pay growth for job-changers slowed to 6.3%, with the pay premium for switching employers hitting a record low, according to ADP’s chief economist. These cooling wage pressures provide a nuanced signal for the Federal Reserve as it monitors the labor market's influence on inflation. Market attention now shifts to the upcoming official non-farm payrolls (NFP) report, where forecasts project an addition of only 58,000 jobs, down from 130,000 last month. The latest figures highlight a cooling labor environment where growth persists in select sectors amid broader economic challenges.