patrick.net

Private employers added more positions in February than economists forecast, adding to concern that inflation may accelerate and the Federal Reserve may boost interest rates at a faster-than-expected pace.

ADP said the private employers added 235,000 jobs last month, compared with the Thomson Reuters projection of 195,000.

Investors are keeping a close eye on U.S. jobs and the Fed's view of the economy. An acceleration in wage growth could encourage central bankers to raise interest rates at a faster pace this year.

The Fed has forecast three rate hikes in 2018, and investors have grown concerned that a fourth increase could emerge given recent inflation gains. On an annualized basis, wages ticked 2.9% higher in January, up from 2.5% for all of 2017.