US ADP Report: Strong January ADP reaffirms strength in U.S. economic recovery

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

ADP number shows the US labor markets remains strong despite recent weakness.

There are two things to note in the headline that,

• ADP report indicates that the economy remains strong in terms of jobs gain but close monitoring needed.
   
• December payroll saw a revision, where the headline was revised down to 263,000 (from 271,000).

Key highlights –

• Non-farm private sector employment grew at 213,000 in January, the median expectation was for 175,000.
• The small business sector added 63,000 jobs, compared to 89,000 gain last month.
• Mid-sized companies added 84,000 jobs compared to last month’s 129,000 jobs.
• The large sector added just 66,000 compared to last month’s 54,000 jobs.
• Manufacturing sector payroll registered 33,000 jobs gain compared to 12,000 jobs gain last month.
• 68,000 jobs were gained in the goods-producing sector, compared to last month’s 47,000 jobs gain.
• The construction sector added 35,000 jobs, compared to last month’s 37,000 jobs gain.
• Services sector remains the main job provider as payrolls added 145,000 people in January. December gain was 224,000.

The dollar index is currently trading at 95.86, up 0.06 percent for the day so far.