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