Private sector added 63,000 jobs in February, above expectations, ADP says

Companies in the private sector added 63,000 jobs in February, payroll processing firm ADP said Wednesday.The figure is above economists’ estimates of a gain of 50,000 jobs. The prior month's payrolls number was revised lower to a gain of just 11,000 from an initially reported gain of 22,000."We've seen an increase in hiring and pay gains remain solid, especially for job-stayers," said Nela Richardson, ADP chief economist. "But with hiring concentrated in only a few sectors, our data shows no widespread pay benefit from changing jobs. In fact, the pay premium for switching employers hit a reco...

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