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U.S. added 213,000 private-sector jobs in January, ADP says

U.S. Added 213,000 Private Sector Jobs In January, ADP Says article is one based on that Finance, Forex groups, published by our scripter Erick Emerson on top of January 30, 2019, this blogpost can search over this tags 213000, added, ADP, January, jobs, privatesector. We all happy to happy you and providing that another chapter regarding finance moreover I am always publishing the blogpost daily.

Bloomberg News/Landov

Payroll processor ADP says 213,000 new jobs were created in January by the private sector.

The numbers: Companies in the U.S. added 213,000 jobs in January, ADP reported Wednesday, another strong reading that suggests little letdown in a steadily growing economy.

Wall Street economists had forecast an increase of 174,000.

ADP trimmed its original estimate of new jobs in December to 263,000 from 271,000.

What happened: Big companies added 66,000 new jobs in January, midsize firms filled 84,000 jobs and small businesses increased employment by 63,000.

Economists use the figures from ADP, the giant payroll processor, to get a sense of how many new jobs the government’s employment report is likely to show a few days later. These two reports sometimes vary significantly month to month, though they move in the same direction over time.

The U.S. probably added 174,000 new jobs in January, with the unemployment rate sticking to 3.9%, according to the MarketWatch forecast. The Labor Department’s report, which comes out Friday at 8:30 a.m. Eastern Time, includes government as well as private-sector workers.

Big picture: The economy is still chugging along even though growth has appeared to slow. The partial government shutdown acted as a bit of a drag and the first quarter tends to be weaker than other quarters owing to seasonal variations in the economy.

Read: Consumer confidence falls to 18-month low due to government shutdown

There is some worry the economy could get worse, especially with global growth slackening. The Federal Reserve has signaled it might wait until midyear to raise interest rates again in a sign of caution. Fed Chairman Jerome Powell will hold a news conference on Wednesday afternoon.

Read: Fed to stress patience and that means no interest-rate move until at least June

Market reaction: The Dow Jones Industrial Average

DJIA, +0.21%

and S&P 500

SPX, -0.15%

were set to open sharply higher in Wednesday trades as tech stocks advanced following Apple

AAPL, -1.04%

 earnings. Strong Boeing

BA, +0.53%

 results also added to the premarket gains.Meanwhile, the 10-year Treasury yield

TMUBMUSD10Y, +0.49%

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