ADP Says Companies in U.S. Added 192,000 Workers in January
Jan. 30 (Bloomberg) -- Companies in the U.S. added 192,000 workers in January, according to a private report based on payrolls.
The increase was higher than projected, data from the Roseland, New Jersey-based ADP Research Institute showed today. The median forecast of 38 economists surveyed by Bloomberg called for an advance of 165,000. Estimates ranged from gains of 120,000 to 235,000.
In October, ADP changed the method it had used to derive its employment figures since 2001. The group’s report is now calculated from a larger sample using a new methodology, and it is released jointly with Moody’s Analytics Inc. of West Chester, Pennsylvania.
A Labor Department report on Feb. 1 may show companies added 168,000 workers to staff last month while the unemployment rate held at 7.8 percent, according to the median estimate in a separate Bloomberg survey.
--With assistance from Kristy Scheuble in Washington. Editor: Kevin Costelloe