American private-sector firms added jobs at a blistering pace in February, with a notable shift away from the service-sector positions that have dominated hiring for years.
A report released Wednesday by ADP and Moody's Analytics revealed that employment in the private sector surged by 298,000 for the month, with goods producers adding 106,000. Construction jobs swelled by 66,000 and manufacturing added 32,000.
The total shattered market expectations of 190,000, according to economists surveyed by ADP. The blockbuster report also solidified market expectations for the U.S. Federal Reserve to hike interest rates next week. Probability for an increase jumped to 91% after the release
The report encompassed the first full month under President Donald Trump, who has pledged to rebuild the nation's aging infrastructure system.
The improvement could cause economists to adjust their expectations for Friday's key non-farm payrolls number from the U.S. Labor Department. The market currently expects the report to show growth of about 185,000 jobs.
