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- U.S. ADP Employment Report: private sector adds 205,000 jobs in January
U.S. ADP Employment Report: private sector adds 205,000 jobs in January
Private sector in the U.S. added 205,000 jobs in January, according the ADP report on Wednesday. December's figure was revised up to 267,000 jobs from a previous reading of 257,000 jobs.
Analysts expected the private sector to add 195,000 jobs.
Services sector added 192,000 jobs in January, while goods-producing sector added 13,000.
"Job growth remains strong despite the turmoil in the global economy and financial markets. Manufacturers and energy companies are reducing payrolls, but job gains across all other industries remain robust. The U.S. economy remains on track to return to full employment by mid-yea," the Chief Economist of Moody's Analytics Mark Zandi said.
Official labour market data will be released on Friday. Analysts expect that U.S. unemployment rate is expected to remain unchanged at 5.0% in January. The U.S. economy is expected to add 190,000 jobs in January, after adding 292,000 jobs in December.
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