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The ADP National Employment Report today showed the pace of job creation in the U.S. to be slowing.
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According to the report, the private sector added 170,000 jobs in the U.S. last month, falling shy of of economists’ expectations for a gain of 185,000 jobs.
The report also downwardly revised December’s private payrolls to an increase of 292,000.
The Roseland, New Jersey-based ADP Employer Services initially reported a gain of 325,000 jobs in December, while the Labor Department the next day reported an increase of 212,000 in private payrolls.
Today’s report was jointly developed with Macroeconomic Advisers LLC.
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To contact the reporter on this story: Emily Knapp at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
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