ADP job report

ADP said 22k private sector jobs were added in January, about half the estimate of 45k and down from 37k in December, revised from the initial print of 41k. Hiring of 30k for very small companies sized between 1-19 employees offset shedding of 30k for those slightly bigger with 20-49 workers. Medium sized businesses up to 499 employees added 41k while those bigger than that lost 18k.

Sector wise was mixed. In services, again education/health services drove most of the employment, adding 74k. Leisure and hospitality added 4k, financial services 14k and trade/transportation/utilities 4k. Lost jobs were seen in information (by 5K), professional/business services (by 57k) and other services (by 13k).