Weak Job Growth Signals Concern: US Companies Add Fewer Jobs Than Expected in January, ADP Report Reveals

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Good Morning Everyone! US companies added fewer jobs than forecast in January, according to the ADP jobs report.

Private payrolls increased 107,000 in January from a downwardly revised 158,000 (was 164,000) gain in December.

Nominal wage also growth continued to slow.

This… pic.twitter.com/lDOZGumoP1

— Genevieve Roch-Decter, CFA (@GRDecter) January 31, 2024

Jan ADP job report shows another slowdown in hiring; BLS report this Friday likely to show same thing but that's based on other evidence, not ADP; remember that ADP and BLS change in rate of increase have slight negative correlation, even after ADP methodology "improvement"… pic.twitter.com/DPKDZYWPkR

— E.J. Antoni, Ph.D. (@RealEJAntoni) January 31, 2024

See also Philly Fed reveals Q2 state employment decline, contradicting Biden administration's inflated claims. Ed Dowd: "This is a leading indicator that something went horribly wrong at the BLS."

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