「Mini Nonfarm Payroll」 ADP Employment Change Below Expectations, US Labor Market Continues to Slow

February 4th: U.S. private payrolls added just 22,000 jobs in January, missing expectations, according to ADP Research Institute data released Wednesday. The figure also included a downward revision to the prior month’s reading, signaling a continued labor market slowdown to start the year. With official U.S. Bureau of Labor Statistics (BLS) data delayed due to a partial government shutdown, ADP’s report is the most comprehensive reference for January’s labor market this week. While recent months have shown some stabilization signs, the weaker-than-expected private gain suggests the labor market remains cool in January. ADP noted the education & health services sector led hiring gains, while professional/business services posted its biggest employment drop since June 2023. (FXStreet)