Economy: ADP report says US added 205,000 jobs
Feb 05, 2016
US private sector employment rose by 205,000 jobs in January from December, according to the ADP national employment report produced by Automatic Data Processing Inc. (NASD: ADP) in collaboration with Moody’s Analytics. January’s jobs gain is a decrease from December’s 267,000 additions, which was revised upward from 257,000.
“Job growth remains strong despite the turmoil in the global economy and financial markets,” said Mark Zandi, chief economist of Moody’s Analytics. “Manufacturers and energy companies are reducing payrolls, but job gains across all other industries remain robust. The US economy remains on track to return to full employment by mid-year.”
The jobs gain exceeded the highest projection in a Bloomberg survey of economists. The median forecast in the Bloomberg survey called for a 195,000 increase, with estimates ranging from 60,000 to 295,000.
Large businesses added 44,000 jobs in January. Businesses with more than 1,000 employees added 30,000 jobs, while businesses with 500 to 999 employees added 15,000 jobs.
Small businesses added 79,000 jobs in January and midsize businesses added 82,000 jobs, according to the report.
The service-providing sector added 192,000 jobs. The goods-producing sector gained 13,000 jobs in January.
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