- POSTED: 05 Feb 2014 23:05
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The US economy added 175,000 private-sector jobs in January, fewer than in December, with severe winter weather taking its toll on job growth, payrolls firm ADP reported on Wednesday.
WASHINGTON: The US economy added 175,000 private-sector jobs in January, fewer than in December, with severe winter weather taking its toll on job growth, payrolls firm ADP reported on Wednesday.
The January number marked the second consecutive month of slowing job growth after November's surge to 289,000, the peak for 2013. ADP revised the December level lower to 227,000.
Last month's job growth came in slightly below analysts' consensus estimate of 178,000.
The January reading "is in line with the average monthly growth throughout 2013," said Carlos Rodriguez, president and chief executive of ADP.
As usual, most of the jobs -- 160,000 -- were added in the country's massive services sector. The goods-producing sector only gained 16,000 jobs, with nearly half of that in the construction industry.
Manufacturing lost 12,000 jobs, the first decline since July 2013.
"Cold and stormy winter weather continued to weigh on the job numbers. Underlying job growth, abstracting from the weather, remains sturdy," said Mark Zandi, chief economist of Moody's Analytics, which helps compile the data.
The ADP report comes before Friday's Labor Department data on job growth and unemployment for January.
Analysts on average are forecasting job growth picked up in January, to 175,000 jobs from a paltry 74,000 jobs in December.
The unemployment rate is expected to remain unchanged at 6.7 per cent.