US recruitment gains ease in January
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The pace of recruitment activity slowed in the US over January following the strong gains seen in the previous month, the latest figures show.
According to the ADP National Employment Report, US non-farm private businesses created 170,000 jobs last month – compared with the 292,000 hires seen in December.
Some 152,000 roles were created in the service sector, while the goods-producing sector added 18,000 workers.
The headline figures were below estimates. A poll of 40 economists by Bloomberg News predicted that 182,000 hires would be made in January.
Joel Prakken, chairman of Macroeconomic Advisers, which helps compile the report, says US labour market conditions continue to improve “at a modest pace”. ADP’s report has showed gains in private employment for 24 months running.
“Other indicators suggest some firming of labour market conditions as well, including the downward trend in unemployment claims, upturns in the components of consumer sentiment and confidence influenced by perceptions about the availability of jobs, and a rising trend in workers voluntarily quitting their jobs,” Prakken adds.
The US employment situation report, which reveals the government’s official assessment of the country’s unemployment level, will be published by the Labor’s Bureau of Labor Statistics.
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