Private-sector employment increased by 205,000 in January, on a seasonally adjusted basis, ADP reported Wednesday.
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In December, ADP says 267,000 jobs were added, compared to its initial estimate of 257,000 new jobs.
"One of the main reasons for lower overall employment gains in January was the drop off in jobs added at the largest companies compared to December. These businesses are more sensitive to current economic conditions than small and mid-sized companies," said Ahu Yildirmaz, VP and head of the ADP Research Institute. "Over the past year, businesses with less than 500 employees have created nearly 80 percent of new jobs."
Economists surveyed by IFR Markets estimated a 195,000 ADP job gain projection for January.
