The employment report issued on Wednesday by ADP stated that job growth in the private sector during January was less than expected.
Private sector jobs increased by 22,000 jobs last month, while downwardly revised data showed an increase of 37,000 jobs in December.
Economists polled by Reuters had expected an increase of 48,000 jobs in the private sector, after previous reports indicated an increase of 41,000 jobs in December.
The employment report was prepared by ADP in collaboration with the Center for Research on the Digital Economy at Stanford University.
The report provided a weak indication of the Bureau of Labor Statistics’ estimates of private sector jobs.
It should be noted that the expected January release of the more comprehensive employment report closely followed by the Bureau of Labor Statistics, which was scheduled for Friday, was delayed due to the partial federal government shutdown.
Last week, Federal Reserve Chairman Jerome Powell said: “Labor market indicators indicate that conditions may stabilize after a period of gradual improvement.”
The US central bank also kept the overnight interest rate within a range between 3.50% and 3.75%. (Arabic)
