WASHINGTON (AP) – U.S. businesses continued to hire at a healthy pace in January, a sign the economy is off to a solid start for the year.
Payroll processor ADP said Wednesday that companies added 234,000 jobs, led by big gains in services firms, such as hotels, restaurants, retail, education and health.
Job gains at that pace are easily enough to drive down the already-low unemployment rate over time. The rate has remained at 4.1 percent for the past three months. Businesses are optimistic about the economy, particularly after the President Donald Trump’s tax overhaul was approved last month.
Still, ADP’s data and government figures frequently diverge. In December, ADP’s report showed employers added 242,000 jobs. But government data indicated just 148,000 jobs were added.