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「Mini Nonfarm Payroll」 ADP Employment Change Below Expectations, US Labor Market Continues to Slow
BlockBeats News, February 4th: In the United States, the number of new jobs added by enterprises in January was below expectations, indicating a continued slowdown in the labor market at the beginning of the year. ADP research data released on Wednesday showed that the private sector added only 22,000 jobs in January, falling short of market expectations, with the previous month's data being revised down.
Due to a partial government shutdown, the official data from the U.S. Bureau of Labor Statistics has been delayed, making ADP data likely the most comprehensive reference this week for the January labor market. Despite some signs of stabilization in recent months, the lower-than-expected increase in private sector employment indicates that the January labor market is still cooling off.
ADP data revealed that the education and health services sector led in hiring growth, while the professional/business services sector saw its largest employment decline since June of last year. (FXStreet)
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