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Investing.com - U.S. private payroll growth slowed in February, according to the ADP National Employment Report on Wednesday.
Private payrolls rose by 77,000 last month, falling from an upwardly-revised level of 186,000 in January. Economists had predicted a reading of 141,000.
The numbers, which were published by ADP in conjunction with Stanford Digital Economy Lab, come ahead of the release of the all-important nonfarm payrolls report on Friday from the Labor Department’s Bureau of Labor Statistics, although there is no correlation between the two data sets.
Overall nonfarm payrolls are tipped to have increased by 156,000 in February, compared to 143,000 in the prior month.
Citing a relatively resilient jobs picture and uncertainty around the inflationary impact of U.S. President Donald Trump’s trade and immigration policies, the Federal Reserve pushed pause on an easing cycle in January and signaled that it will take a wait-and-see approach to future possible borrowing cost reductions.