- Private companies hired another 234,000 in January, well above expectations for 185,000, according to ADP and Moody’s Analytics.
- Service-related industries led with 212,000 new jobs, though manufacturing added 12,000 and construction 9,000.
- The report often differs significantly from the government’s more closely watched nonfarm payrolls count, with ADP reporting growth of 242,000 in December vs. the Labor Department’s 148,000.
“The job market juggernaut marches on,” Mark Zandi, chief economist at Moody’s Analytics, said in a statement. “Given the strong January job gain, 2018 is on track to be the eighth consecutive year in which the economy creates over 2 million jobs. If it falls short, it is likely because businesses can’t find workers to fill all the open job positions.”
More manufacturing jobs? We were told they would never come back:
More on today’s solid jobs numbers from CNBC.com: www.cnbc.com