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Private Sector Adds 187K More Jobs

By: Susan Harris
Staff Writer
Feb 2, 2021

The private sector added 187,000 jobs in January, compared with a downwardly revised 247,000 jobs in December, a report by payrolls processor ADP Employer Services showed on Wednesday.

The ADP figures come ahead of the government’s more comprehensive January labor market report on Friday, which includes both public and private sector employment.

But ADP figures for December — both initial and revised — turned out to be much stronger than the government report showed, adding to doubts about the reliability of ADP as a predictor of payrolls.

Markets showed little reaction to the data, and some analysts said investors could be wary of ADP after December’s numbers.

“People are discounting it because of (December’s) shocker and a couple of days later, it proved to be wrong,” said John Canally, investment strategist at LPL Financial in Boston.

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