ADP Nonfarm Employment change 31.01.2018
Prior Change 250K, revised to 242K
– Small businesses: +58K v +94K m/m
– Medium businesses: +91K v +100K m/m
– Large businesses: +85K v +56K m/m
– Goods-producing sector: +22K v +16K m/m
– Service-providing sector: +212K v +222K m/m (96th straight month of increases)
– Construction +9K v +16K m/m
– Manufacturing +12K v +9K m/m
- Mark Zandi, chief economist of Moody’s Analytics: January job gain, 2018 is on track to be the eighth consecutive year in which the economy creates over 2 million jobs. If it falls short, it is likely because businesses can’t find workers to fill all the open job positions.
- Strongish beat but a pretty volatile number. The USD emphasis of the day lies of course with the FOMC later in the day, expected to strike a somewhat hawkish tone confirming at least 3 rate hikes this year considering global growth, rising rates and stock market valuations.