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ADP National Employment Report Decreased by 301,000 jobs in January 2022
Private sector employment decreased by 301,000 jobs from December to January according to the January ADP® National Employment Report. The December total of jobs added was revised from 807,000 to 776,000.
“The labor market recovery took a step back at the start of 2022 due to the effect of the Omicron variant and its significant, though likely temporary, impact to job growth,” said Nela Richardson, chief economist, ADP. “The majority of industry sectors experienced job loss, marking the most recent decline since December 2020. Leisure and hospitality saw the largest setback after substantial gains in fourth quarter 2021, while small businesses were hit hardest by losses, erasing most of the job gains made in December 2021.”
Posted: February 2, 2022 Wednesday 08:15 AM