January 2013 ADP Jobs 192,000, Exceeds Expectations

Written by Steven Hansen ADP reported January 2013 non-farm private jobs growth at 192,000. The market expected 175K (versus the 192K reported). These numbers are all seasonally adjusted. This month, ADP's analysis is that small and medium sized business created the majority of the jobs. Manufacturing remains the headwind to employment gains trade / transport / utilities sectors provided almost 1/3 of the employment increase. This was the largest monthly job growth since February 2012. The December 2012 ADP jobs, which reported job gains of 215,000, was revised downward by 30,000 to 185,000 jobs ADP had been the best real time indicator of jobs growth, and we are monitoring their current new methodology which began with their October 2012 report. Jobs growth has been over economic potential until recently - and now jobs growth is near potential.   Read more »