MW: ADP index shows private-sector jobs fell by 697,000 in Feb.
By Rex Nutting
WASHINGTON (MarketWatch) -- U.S. private-sector firms cut 697,000 jobs in February, according to the ADP employment index, which is based on millions of company payroll records. The ADP index released Wednesday showed the goods-producing sector shed 338,000 jobs, the 26th consecutive decline. The services sector lost 359,000 jobs. The index does not include government jobs. Adding in the typical 12,000 jobs gained in the public sector, the ADP report points to nonfarm payrolls falling by 685,000, compared with the MarketWatch consensus of 640,000.
