The monthly jobs report will be released this Friday by the Department of Labor but if ADP’s news is any indication, it won’t exactly be strong.
Per a private report based on various payrolls, companies apparently added less workers in February than experts initially projected.
The forecast by 39 economists predicted 155,000 new jobs but chilly weather conditions kept people away from stores as well as car dealerships. In turn, experts are saying this could be one main reason why companies were sluggish on hiring matters.
Mark Zandi, chief economist at Moody’s Analytics, indicated in a statement:
“Employment was weak across a number of industries. Bad winter weather, especially in mid-month, weighed on payrolls. Job growth is expected to improve with warmer temperatures.”
So, as temps slowly rise (one can only hope, right?), hopefully job growth will increase, too.