ADP Reports Private Sector Employment Increased by 174,000 Jobs in January

According to the August ADP National Employment Report® nonfarm private sector employment increased by 174,000 jobs from December to January. The ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. In prepared remarks Ahu Yildirmaz, vice president and co-head of the ADP Research Institute said, “The labor market continues its slow recovery amid COVID-19 headwinds. Although job losses were previously concentrated among small and midsized businesses, we are now seeing signs of the prolonged impact of the pandemic on large companies as well.”