The U.S. labor market maintained an impressive rate of expansion in February as employers created 235,000 new positions, according to a report published Wednesday by the ADP Research Institute.
According to U.S. News & World Report, ADP’s employment data, which are typically released a few days ahead of the government’s official numbers and offer a preview of what to expect later in the week, show the domestic labor market on solid footing in the midst of an economic expansion that’s now nearly nine years old.
February represents the third consecutive month that job gains totaled at least 230,000, based on ADP’s statistics. It’s also the fourth straight month that employment gains hit at least 200,000 – a feat that hadn’t been seen since the tail end of 2014.
“We see persistent gains across most industries with leisure and hospitality and retail leading the way as consumer spending kicked up,” Ahu Yildirmaz, a vice president and co-head of the ADP Research Institute, said in a statement Wednesday morning. “At this pace of job growth employers will soon become hard-pressed to find qualified workers.”
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