Reported about 5 hours ago
In January, the private sector added 183,000 jobs, exceeding estimates of 150,000, according to ADP. Chief economist Nela Richardson highlighted that this growth, particularly in the leisure and hospitality sectors, reflects a continued hiring momentum from 2024. She emphasized the importance of monitoring consumer-facing industries for insights into the labor market. While wage growth stands at 4.7%, it poses challenges for the Federal Reserve as it contributes to persistent inflation.
Source: YAHOO