Employment rose by 183,000 for the month, according to a report Wednesday from Moody's Analytics that topped the 155,000 that economists surveyed by Dow Jones expected.
Despite the coronavirus scare, private payrolls rose by 183,000 in February, well ahead of Wall Street estimates for 155,000.January's number was revised down sharply, from an initially reported 291,000 to 209,000.Patrick T. Fallon | Bloomberg | Getty Images
The job growth came during a month in which fear spread that the COVID-19 strain would lead to a global economic slowdown. So far, 93,455 cases have been confirmed worldwide, including 3,198 deaths. However, he added that "it's just a matter of time" before the numbers in future months reflect the situation.While the report was better than expected, the news was tempered by a big downward revision to January's number, which fell from an initially reported 291,000 down to 209,000, still better than Wall Street estimates but off the initial report that had pointed to the biggest monthly gain in nearly five years.
Some economists think that small business could take the biggest hit from a virus-induced slowdown, and that was reflected in the ADP numbers.
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