2017 Begins With A Robust ADP

Today ADP employment numbers were released from US for the month of Janaury.

ADP number shows the US labor markets are showing a lot of volatility lately.

There are two things to note in the headline that,

• January begins solid.

• December payroll got a revision. It has now revised to 151,000 (down from 153,000).

Key highlights

• Non-farm private sector employment grew at 246,000 in January, median expectation was for 165,000.
• Small business sector hiring at 62,000, compared to 18,000 last month.
• Employment in franchise increased to 23,300 compared to last month’s 23,300.
• Mid-sized companies added 102,000 jobs compared to last month’s 71,000 jobs.
• Large sector added just 83,000 compared to last month’s 63,000 jobs.
• Manufacturing sector payroll registered 15,000 jobs gains compared to 9,000 job losses last month.
• 46,000 jobs were gained in goods producing sector, compared to last month’s 16,000 jobs losses.
• Construction sector saw 25,000 jobs gains, compared to last month’s 2,000 jobs loss.
• Services sector employment remains robust as payroll added 201,000 people in January. December gains were 169,000.

The dollar index is currently trading at 99.78, up 0.25 percent for the day so far.