0901 ET - ADP's employment estimate indicates solid U.S. job growth in January. The payroll and HR-services provider figures that the economy added 183,000 jobs last month. It also sharply revises up its December estimate: now to 176,000, from 122,000 previously. Carl Weinberg and Mary Chen of High Frequency Economics warn that the ADP figure isn't a stellar predictor of official data, but say adds useful color. "Right now, [the big picture] is one of still substantial increases in jobs by a fast-growing economy but a slowing trend in job creation," they write. "Today's figures do not upset that trend." (matt.grossman@wsj.com; @mattgrossman)
(END) Dow Jones Newswires
February 05, 2025 09:01 ET (14:01 GMT)
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