U.S. Private Sector Employment Increases More Than Expected In January
(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. increased by more than expected in the month of January.
ADP said private sector employment climbed by 183,000 jobs in January after rising by an upwardly revised 176,000 jobs in December.
Economists had expected private sector employment to rise by 150,000 jobs compared to the addition of 122,000 jobs originally reported for the previous month.
"We had a strong start to 2025 but it masked a dichotomy in the labor market," said ADP chief economist Nela Richardson. "Consumer-facing industries drove hiring, while job growth was weaker in business services and production."
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U.S. Services Index Unexpectedly Indicates Modestly Slower Growth In January
Service sector growth in the U.S. unexpectedly slowed modestly in the month of January, according to a report released by the Institute for Supply Management on Wednesday. The ISM said its services PMI dipped to 52.8 in January from a revised 54.0 in December. While a reading above 50 still indicates growth, economists had expected the index to inch up to 54.3.
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U.S. Private Sector Job Growth Exceeds Estimates In January
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U.S. Construction Spending Climbs Much More Than Expected In December
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U.S. Manufacturing Index Indicates Growth For First Time In Over Two Years
Following 26 consecutive months of contraction, the Institute for Supply Management released a report on Monday showing U.S. manufacturing activity expanded in the month of January. The ISM said its manufacturing PMI rose to 50.9 in January from 49.2 in December, with a reading above 50 indicating growth. Economists had expected the index to inch up to 49.8.
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