The ADP/Moody's Analytics private payrolls report had been expected to rise by 150,000 in January.
The jobs market kicked off 2020 in grand fashion, adding 291,000 in private payrolls for the best monthly gain since May 2015, according to a report Wednesday from ADP and Moody's Analytics.
In all, services added 237,000 positions compared with 54,000 for goods producers. Trade transportation and utilities rose by 8,000, while the information and financial activities sectors contributed 2,000 apiece. Natural resources and mining was the sole loser with a drop of 2,000."Mild winter weather provided a significant boost to the January employment gain," Mark Zandi, chief economist at Moody's Analytics, said in a statement.
The figures come a day after President Donald Trump spent a good portion of his State of the Union address talking up the jobs expansion during his first term. Nonfarm payrolls have grown by 6.7 million since Trump took office in January 2017. The ADP count comes two days ahead of the government's more closely watched nonfarm payrolls report, which includes government jobs that ADP does not count. Job growth likely came in at 158,000 compared with the initially reported 145,000 in December, according to Dow Jones estimates. The unemployment rate is expected to hold at 3.5%, the lowest since December 1969.
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