UPDATE: U.S. Private-Sector Employment Increased by 170,000 Jobs in January, According to ADP
Private-sector employment increased by 170,000 from December to January on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The ADP National Employment Report, created by Automatic Data Processing, Inc. (NYSE: ADP), in partnership with Macroeconomic Advisers, LLC, is derived from actual payroll data and measures the change in total nonfarm private employment each month. The estimated gain in employment from November to December was revised down to 292,000 from the initially reported 325,000.
According to today's ADP National Employment Report, employment in the nonfarm private business sector rose 170,000 from December to January on a seasonally adjusted basis. Employment in the private, service-providing sector increased 152,000 in January, after rising a revised 241,000 in December. Employment in the private, goods-producing sector rose 18,000 in January. Manufacturing employment increased 10,000, while construction employment advanced 2,000 during that period.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.