Investing.com – U.S. non-farm private employment increased less-than-expected in January, while the previous month’s figure was revised down, industry data showed on Wednesday.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 170,000 in January, falling short of expectations for an increase of 190,000.
The previous month’s figure was revised down to a gain of 292,000 from a previously reported increase of 325,000.
The report said employment in the service-providing sector rose by 152,000 in January, marking 25 consecutive months of employment gains.
Employment in the goods-producing sector increased by 18,000, while manufacturing employment rose by 10,000.
Employment in the construction industry increased by 2,000 this month, which is down from an increase of 27,000 in December. Employment in the financial services sector increased 9,000 in January, which is up from an increase of 1,000 in December, and represents the largest gain in two years.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD rising 0.68% to trade at 1.3173.
Meanwhile, U.S. stock index futures held on to gains after the release of the data. The Dow Jones Industrial Average futures indicated a rise of 0.65%, S&P 500 futures pointed to an increase of 0.7%, while the Nasdaq 100 futures added 0.5%.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 170,000 in January, falling short of expectations for an increase of 190,000.
The previous month’s figure was revised down to a gain of 292,000 from a previously reported increase of 325,000.
The report said employment in the service-providing sector rose by 152,000 in January, marking 25 consecutive months of employment gains.
Employment in the goods-producing sector increased by 18,000, while manufacturing employment rose by 10,000.
Employment in the construction industry increased by 2,000 this month, which is down from an increase of 27,000 in December. Employment in the financial services sector increased 9,000 in January, which is up from an increase of 1,000 in December, and represents the largest gain in two years.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD rising 0.68% to trade at 1.3173.
Meanwhile, U.S. stock index futures held on to gains after the release of the data. The Dow Jones Industrial Average futures indicated a rise of 0.65%, S&P 500 futures pointed to an increase of 0.7%, while the Nasdaq 100 futures added 0.5%.