The US private sector added approximately 63,000 jobs in February, according to figures released moments ago by ADP. This follows a revised increase of approximately 11,000 jobs in January, up from the previously reported 22,000, exceeding expectations of 50,000.

Specifically, the construction sector added approximately 19,000 jobs, while the manufacturing sector lost approximately 5,000. The education and healthcare services sector led the service sector with an increase of 58,000 jobs, while the professional and business services sector lost 30,000 jobs, and the trade, transportation, and utilities sector lost approximately 1,000 jobs.