Private businesses added almost 300,000 jobs in February

A new report just released by ADP, a payroll processing firm, revealed that 298,000 jobs were added to the nonfarm private sector last month, a positive sign for the U.S. economy.

In the announcement, ADP Vice President Ahu Yildirmaz said that February showed gains that have not been seen in years. For example, 201,000 jobs were added in December, whereas February 2016 saw an increase of 255,000. 

"Gains were driven by a surge in the goods sector, while we also saw the information industry experience a notable increase," Yildrimaz said.

Totaling 193,000 added jobs, businesses in the services industries - including professional, technical and management - contributed the most to the dramatic uptick. In the goods sector, construction and manufacturing accounted for the biggest increases, reaching 66,000 and 32,000, respectively. 

Moody's Analytics Chief Economist Mark Zandi suggested that part of the reason February was such a great month for employment - especially in the manufacturing, mining and construction fields - can be attributed to the relatively mild and tame winter. 

As USA Today pointed out, the employment increase is significantly higher than the 189,000 jobs originally forecast. News of this substantial gain comes just ahead of the much-anticipated Labor Department report that will be released tomorrow.

A new ADP report revealed that 298,000 jobs were added to the nonfarm private sector last month.