The employment report published by Automatic Data Processing Inc. (ADP)
and Moody's Analytics showed on Wednesday that U.S. private employers added 106,000
jobs in January 2023. This represented the smallest reading since a decrease in
private-sector employment seen in January 2021 (-109,000 jobs).
Economists had forecast an addition of 178,000 new jobs for January.
The December 2022 figure saw an upward revision to 253,000 from the originally announced 235,000.
Commenting on the latest data, Nela Richardson, ADP’s chief economist, noted
that the January weak reading reflected an impact of weather-related
disruptions on employment during the ADP’s reference week. “Hiring was stronger
during other weeks of the month, in line with the strength we saw late last
year,” she added.