• Private payrolls increased by 242,000 in February, per ADP
  • Gain led by hiring in leisure as well as larger-sized firms

US companies added more jobs than expected in February, underscoring persistent demand for labor that’s keeping wage growth elevated.

Private payrolls rose 242,000 last month after an upwardly revised 119,000 increase in January, according to figures out Wednesday from ADP Research Institute in collaboration with Stanford Digital Economy Lab. The median estimate in a Bloomberg survey of economists called for a 200,000 advance.