US: ADP - Private sector employment increased by 213K in January vs 175K expected

Eren Sengezer FXStreet

"Private sector employment increased by 213,000 jobs from December to January," the ADP announced in its latest employment report. This reading surpassed the market expectation of 175K and came in below the previous reading of 263K (revised from 271K). Below are some key quotes from the official press release.

“The labor market has continued its pattern of strong growth with little sign of a slowdown in sight,“ said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.

We saw significant growth in nearly all industries, with manufacturing adding the most jobs in more than four years.
Midsized businesses continue to lead job creation, however the share of jobs was spread a bit more evenly across all company sizes this month.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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