Forex News – U.S. private sector jobs increased in February

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The ADP employment report released Wednesday shows that private-sector payrolls  in the United States increased by more than expected in February, adding 216,000 jobs. This was led by the service-providing sector and small businesses. January’s number was revised to 173,000 from a prior estimate of 170,000.

The dollar climbed against the Japanese yen after the report at 13:15 GMT, with USDJPY rising from 80.64 to 80.94by 14:00 GMT.

The focus now turns to the U.S. Labor Department’s jobs estimate, which will be released Friday and includes information on both private- and public-sector payrolls. Usually the ADP’s report on private-sector payrolls is seen to provide some guidance on the main NFP report.

So far, forecasts by economists are that nonfarm payroll employment rose 213,000 in February, compared with 243,000 in January. The unemployment rate is expected to remain at 8.3 percent.