Friday, January 31, 2025, the “Recruitment Now” logo for Chipotle Restaurant in San Francisco, California, USA. ChipotleMexican Grill Inc. plans to release earnings data on February 4.
David Paul Morris | Bloomberg | Getty image
ADP reported on Wednesday that private sector companies have added more than expected work, furthering a stable labor market that allows the Fed’s next policy migration, which allows Fed time to allow.
Payroll processing companies said the company created net net work in the month, slightly higher than 176,000 in December, a figure from 122,000 initial numberEssence Economists surveyed by the Dow Jones have been looking for 150,000 gains.
Workers staying at work grew by 4.7% year-on-year, up 0.1 percentage point from December.
Although the title ADP number exceeds the expected highest point, the internal list shows an unbalanced picture.
All creation jobs come from service providers, which added 190,000 positions while commodity producers lost 6,000. (The number is not as high as 183,000 due to rounding.)
“We have a strong start to 2025, but it obscures the dichotomy of the labor market,” said Nela Richardson, chief economist at APD. “The consumer-oriented industry hires recruitment, while job growth is in business.” Weaker in terms of service and production.”
Trade, transportation and utilities have 56,000 new jobs, leisure and hospitality lag behind 54,000, and education and health services have increased by 20,000. However, manufacturing lost 13,000 jobs.
Job creation is fairly evenly distributed in business size, with companies hiring 92,000 workers.
Federal Reserve official Observing the work pictures carefully When they consider whether to continue to lower interest rates. The Fed lowered its key borrowing rate by 1 percentage point last year to support the labor market, which showed signs of a slowdown. Recently, policy makers stressed Maintaining the importance of patients When they watch the tariff war in Washington and the impact of lowering tax rates.
The ADP report is the rise of a more closely watched non-agricultural wage report that the Bureau of Labor Statistics will hold on Friday, which includes government workers, unlike the ADP. The consensus view of the BLS report is that wage income was 169,000 in January and the unemployment rate was 4.1%.
These two reports sometimes vary greatly. However, ADP said it continues to expand the sample size of its wage volume measure portion, with the current wage volume of 14.8 million, and the launch of nearly 10 million.
