U.S. Private Payrolls Beat Expectations In January

Private payrolls increased by 183,000 jobs last month; economists polled by Reuters had forecast private employment advancing by 150,000.

U.S. private payrolls growth picked up in January, the ADP National Employment Report showed on Wednesday.

Private payrolls increased by 183,000 jobs last month after an upwardly revised 176,000 rise in December. Economists polled by Reuters had forecast private employment advancing by 150,000 following a previously reported 122,000 gain in December.

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The ADP report, jointly developed with the Stanford Digital Economy Lab, was published ahead of Friday’s more comprehensive and closely watched employment report for January from the Labor Department’s Bureau of Labor Statistics.

There is no correlation between the ADP and BLS employment report. Private payrolls likely increased by 141,000 jobs in January after rising 223,000 in December, a Reuters survey showed. Overall nonfarm payrolls are estimated to have increased by 170,000 jobs after surging 256,000 in December. The unemployment rate is forecast unchanged at 4.1%.