ADP: Private sector job growth remains 'sturdy'

NEW YORK (CNNMoney)

The private sector added 198,000 jobs in February, ADP (ADP, Fortune 500) said.

While this is the slowest level of private sector job growth since October, it was still stronger than expected. Economists surveyed by Briefing.com were expecting the report to show the private sector added 150,000 jobs in February.

"The job market remains sturdy in the face of significant fiscal headwinds," said Mark Zandi, chief economist of Moody's Analytics, in the report.

"Tax increases and government spending cuts don't appear to be affecting the job market," he added.

The ADP report is closely monitored since it comes two days before the government's monthly jobs report. Economists are expecting 165,000 jobs were added and that the unemployment rate remained at 7.9%.

First Published: March 6, 2013: 8:33 AM ET

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