IANS | 01 Feb, 2018
The US private sector added
more jobs than expected in January, signaling a robust start to the
year in hiring, according to data released by the ADP Research
Institute on Wednesday.
Payrolls at non-farm private
companies increased by 234,000 in January, beating market
expectations. Small private-sector businesses added 58,000 jobs in
January, medium-sized businesses added 91,000 and large businesses
added 85,000, according to the report.
The hiring in the
first month of the new year bodes well for the remainder of 2018,
Xinhua quoted Mark Zandi, chief economist of Moody's Analytics, as
saying.
"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," he said. "If it falls short,
it is likely because businesses can't find workers to fill all the
open job positions."
The ADP National Employment
Report is jointly developed with Moody's Analytics.