US January ADP employment +183K vs +150K expected

• Prior was +122K (revised to +176K)
• Goods producing -6K
• Service providing +190K
• Pay gains for job stayers 4.7% vs 4.6% prior
• Pay growth for job changers 6.8% vs 7.1% prior

“We had a strong start to 2025 but it masked a dichotomy in the labor market,” said Nela Richardson,
chief economist, ADP. “Consumer-facing industries drove hiring, while job growth was weaker in business
services and production.”

More than half of the jobs gains were in ‘trade/transportation/utilities’ and in ‘leisure/hospitality’.

Overall, this adds an upwards bias to non-farm payrolls but this report’s correlation with NFP is tenuous at best.

This article was written by Adam Button at www.forexlive.com.