US ADP Jan 2018 Employment change 234 K vs 185K expected

by | January 31st, 2018, 13:15:15 | Economic Data, US

ADP Nonfarm Employment change 31.01.2018

Prior Change 250K, revised to 242K

  • Components:
    – 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.
K-man
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