U.S. private-sector job growth slowed markedly in January: ADP
The numbers: Private payrolls rose by 106,000 in January, according to the payroll services firm ADP on Wednesday. That is a significant drop from the revised 253,000 jobs added in December.Key details: All the job gains were in the service-producing sectors. The goods -producing sector lost jobs in the month.
By company size, large businesses added 128,000 private-sector jobs in January while small businesses lost 75,000. Medium-sized businesses, defined as firms with 50 to 499 employees, added 64,000 jobs.Those changing jobs say a median change in annual pay accelerated to 15.4%. Economists expect the government to report that job growth expanded by a net 187,000 in January, down from 223,000 in the prior month. The job report will be released on Friday.
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