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Private-sector employment in the U.S. rose by 175,000 jobs in January, according to today’s national employment report released by Automatic Data Processing Inc. (NASD: ADP). Job growth is in-line with 2013 and remains “sturdy.”
“Cold and stormy winter weather continued to weigh on the job numbers. Underlying job growth, abstracting from the weather, remains sturdy,” said Mark Zandi, chief economist at Moody’s Analytics, which produces the report with ADP. “Gains are broad based across industries and company sizes, the biggest exception being manufacturing, which shed jobs, but that is not expected to continue.”
According to ADP's report, the service-providing sector added 160,000 jobs in January, down slightly from an upwardly revised December figure of 177,000. The goods-producing sector added 16,000 jobs in January, down from the downwardly revised figure of 50,000 jobs in December.
Small firms added the most jobs in the month with 75,000. Medium-sized companies followed with 66,000, and large businesses added 34,000 jobs.
The report is derived from a sample of ADP data from 411,000 U.S. business clients representing nearly 24 million U.S. employees. The report’s methodology utilizes ADP payroll data, U.S. Bureau of Labor Statistics employment data, and the Philadelphia Federal Reserve Bank’s Aruoba-Diebold-Scotti Business Conditions Index.