U.S. companies added 170,000 workers in January, reflecting jobgains in services and at small businesses, according to a privatereport based on payrolls.
The increase was less than forecast and followed a revised292,000 rise the prior month that was less than previouslyreported, the report from the Roseland, New Jersey-based ADPEmployer Services showed today. The median estimate in a BloombergNews survey of economists called for an advance of 182,000.
“The job market continues to grow at a moderate pace,” JonathanBasile, a senior economist at Credit Suisse in New York, saidbefore the report. “We're on a gradually improving path for thelabor market.”
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