U.S. January ADP Nonfarm Employment at 183,000... Far Exceeds Wall Street Expectations

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Summary

The U.S. January ADP nonfarm employment index was reported to have significantly exceeded Wall Street expectations.
Private sector new job employment in January was 183,000, surpassing both the expected 148,000 and last month's figures.
The ADP National Employment Report is explained to be used as a predictor of government nonfarm employment changes.

The U.S. January ADP (Automatic Data Processing) nonfarm employment index significantly exceeded Wall Street expectations.

According to the National Employment Report released by ADP on the 5th (local time), private sector new job employment in January was 183,000, surpassing both the expected 148,000 and last month's revised figure of 176,000.

The ADP National Employment Report is a measure of employment changes based on payroll data from about 400,000 U.S. business clients of ADP and is used as a predictor of government nonfarm employment changes because it is released before government data.