Economics
U.S. Companies Add More Jobs Than Expected, ADP Data Show
- Payrolls increased by 174,000, beating economists’ forecasts
- Overall gain in January was led by service-providing companies
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U.S. companies added more jobs than forecast in January, a sign that the labor market may be gradually improving as Covid-19 infections begin to ebb.
Company payrolls increased by 174,000 during the month, according to ADP Research Institute data released Wednesday. The median projection in a Bloomberg survey of economists called for an increase of 70,000. The prior month was revised up to a 78,000 decline.