ADP reported non-farm private jobs growth at 235,000.
Analyst Opinion of ADP Employment Situation
This month the rate of ADPs private employment year-over-year growth remained in the tight range seen over the last year.
ADP employment has not been a good predictor of BLS non-farm private job growth.
ADP changed their methodology starting with their October 2012 report, and ADP’s real-time estimates are currently worse than the BLS.
Per Mark Zandi, chief economist of Moody’s Analytics:
The job market juggernaut marches on. Given the strong January job gain, 2018 is on track to be the eighth consecutive year in which the economy creates over 2 million jobs. If it falls short, it is likely because businesses can’t find workers to fill all the open job positions.
Per Ahu Yildirmaz, VP, and head of the ADP Research Institute.
We’ve kicked off the year with another month of unyielding job gains. Service providers were firing on all cylinders, posting their strongest gain in more than a year. We also saw robust hiring from midsize and large companies, while job growth in smaller firms slowed slightly
Jobs growth of 150,000 or more is calculated by Econintersect to the minimum jobs growth to support population growth (see caveats below). The graph below shows ADP employment gains by month.