"In our data, job market growth is gaining traction. In employment terms, February's numbers show real forward momentum. The private sector added 63,000 jobs in February, according to payroll processor ADP, rebounding from the 11,000 job gains in the prior month."
"The Bank of America Institute data shows wage growth among higher-income workers accelerated by 4.2% year-over-year in February, a large jump compared to their middle- and lower-income cohorts who saw wages jump by 1.2% and 0.6%, respectively. The gap between higher-income wage growth and other cohorts is the largest it has been since the beginning of our data series."
"Separate data released Wednesday morning similarly suggested that the impression is of a strengthening labor market in the early months of 2026. Payrolls growth accelerated to 1.3% in February compared to the same period a year ago, up from the 0.8% gain in January."
Private sector employment showed momentum in February 2026, with 63,000 jobs added compared to 11,000 in January. However, job growth concentrated heavily in education and health services, which accounted for 58,000 of the gains, while construction added 19,000 jobs. Payroll growth accelerated to 1.3% year-over-year in February from 0.8% in January. Despite strengthening labor market indicators, wage growth revealed concerning disparities: higher-income workers experienced 4.2% wage growth year-over-year, while middle-income workers saw 1.2% growth and lower-income workers only 0.6%. This wage gap represents the largest disparity in the data series, with limited pay benefits from job changes.
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