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US gains 213,000 jobs in January, growth pace slows

February 04, 2015

US private sector employment rose by approximately 213,000 jobs in January when compared to December, according to the ADP national employment report produced by Automatic Data Processing Inc. (NASD: ADP) in collaboration with Moody’s Analytics.

Small businesses added 78,000 jobs in January, according to the report. Medium-sized businesses added 95,000 jobs, and large businesses added 40,000 jobs.

By sector, the service-providing sector added approximately 183,000 jobs, and the goods-providing sector added approximately 31,000 jobs.

“Employment posted another solid gain in January, although the pace of growth is slower than in recent months,” said Mark Zandi, chief economist of Moody’s Analytics. “Businesses in the energy and supplying industries are already scaling back payrolls in reaction to the collapse in oil prices, while industries benefiting from the lower prices have been slower to increase their hiring. All indications are that the job market will continue to improve in 2015.”