Better-than-expected Non-Farm Payrolls! US February ADP employment surged by 63,000, signaling a warming labor market, but investors remain cautious.

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U.S. February ADP Employment Report Officially Released

According to the report, the U.S. private sector added 63,000 jobs in February, exceeding market expectations of approximately 48,000 to 50,000 jobs. This indicates a rebound in labor market hiring momentum, but the overall growth remains moderate and well below the peak levels seen after the pandemic.

(Previous context: Bitcoin struggles to break through $66,000, hovering sideways; Federal Reserve officials warn: Iran war makes rate cuts more distant)

(Additional background: U.S. January non-farm payrolls “surprisingly strong”! Markets bet on a Fed rate cut in July; Bitcoin surpasses $68,000, Ethereum hits $2,000)

The U.S. February ADP employment report (commonly known as “Small Non-Farm”) was officially released this evening (4th), in collaboration with ADP Research and Stanford Digital Economy Lab. The report shows that private sector employment increased by 63,000 jobs in February, the highest since November 2025, surpassing market expectations of around 48,000 to 50,000.

Other related data include: the annual salary growth rate remains at 4.5%, unchanged from January, indicating relatively stable wage pressures. In terms of industries, construction and education/health services are the main growth drivers, contributing most of the new jobs; leisure and hospitality saw slight increases, while manufacturing experienced a small decline.

In summary, this report indicates a rebound in labor market hiring momentum, but the overall growth remains moderate and significantly below pandemic peak levels. As a leading indicator of the official Non-Farm Payrolls (NFP) report, today’s ADP data may provide a positive reference for the March NFP release scheduled for this Friday. However, before the official non-farm data is published and amid recent tensions in the Middle East, the market remains cautious. Both Bitcoin and Ethereum showed little movement after the data release, with no clear reaction.

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