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ADP Inc.

Hiring by U.S. businesses slows in January, but job growth still solid despite market turmoil

Hiring by U.S. businesses slows in January, but job growth still solid despite market turmoil

Hiring by U.S. businesses slowed in January, but private-sector job growth remained solid in a sign the labor market has been able to withstand the recent financial market turmoil, according to a report released Wednesday by payroll firm Automatic Data Processing.

Private employers added 205,000 net new jobs last month, down from an upwardly revised 267,000 in December, ADP said. 

Economists had expected job gains to slow after an unusually strong finish last year and sharp downturns in major stock indexes that have been driven by concerns about slowing global growth.

But the ADP figure, which is watched as a signal of overall job growth, was better than the 190,000...

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