Private sector job growth cools to 106,000 in January, lowest in two years: ADP

• February 1, 2023
• realestatelife
• Business & Markets, Fed, Interest Rates, Politics & Economy, Rates, Real Estate, Real Estate Finance, Recession, Your Real Estate Life

Hiring by U.S. companies slowed sharply in January, the latest sign that the historically tight labor market is finally starting to cool off, according to the ADP National Employment Report released Wednesday morning. 

Companies added 106,000 jobs last month, missing the 178,000 gain that economists surveyed by Refinitiv had predicted. It marked the worst month for job creation since January 2021.