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ADP Payrolls Surge by 174,000 in January, Rebounding from December Slump

Published 02/03/2021, 08:18 AM
Updated 02/03/2021, 08:22 AM
© Reuters.

By Geoffrey Smith 

Investing.com --  The U.S. labor market bounced back with vigor from its lockdown-related blues in the first month of the year, according to a closely-watched private survey released Wednesday.

Payrolls processor ADP said the U.S. private sector added a net 174,000 jobs in the month through mid-January, over three times as many as analysts polled by Investing.com had expected.

December’s data was also heavily revised to show a drop of only 78,000 from an initial estimate of 123,000. As such private job gains over the last two months have averaged 48,000 a month. That's despite a raft of measures imposed by states and municipalities across the country clamping down on dining, drinking and non-essential retail.

Latest comments

So basically we are back to where we started. The economy is in free fall and we all know it quit with the propaganda
We still need to add about 13 million more jobs to be back where we started a year ago. Only about 100 more "surges" to go, and we'll be back on 2019-levels in 2029.
It's so true. So much bull from media and hidden powers. There is a monster agenda and its slow clear. Trump and Biden have little to do with it
Agreed. pre pandemic we were already talking about a recession
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