By 
by Calculated Risk on 2/01/2023 08:25:00 AM
Private sector employment increased by 106,000 jobs in
January and annual pay was up 7.3 percent year-over-year, according to the January ADP(R) National
Employment ReportTM produced by the ADP Research Institute(R) in collaboration with the Stanford Digital
Economy Lab (“Stanford Lab”).
…
“In January, we saw the impact of weather-related disruptions on employment during our reference
week,” said Nela Richardson, chief economist, ADP. “Hiring was stronger during other weeks of the
month, in line with the strength we saw late last year.”
January and annual pay was up 7.3 percent year-over-year, according to the January ADP(R) National
Employment ReportTM produced by the ADP Research Institute(R) in collaboration with the Stanford Digital
Economy Lab (“Stanford Lab”).
…
“In January, we saw the impact of weather-related disruptions on employment during our reference
week,” said Nela Richardson, chief economist, ADP. “Hiring was stronger during other weeks of the
month, in line with the strength we saw late last year.”
emphasis added
This was well below the consensus forecast of 170,000, however, ADP blamed it on the weather. The BLS report will be released Friday, and the consensus is for 185 thousand non-farm payroll jobs added in January.
Comments