Employment growth topped the 200,000-job mark once again in January, according to the latest report from Roseland-based ADP. However, the gains for the month were behind the November-to-December pace.ADP said the nation added 213,000 jobs from December to January, in contrast to the 241,000 added from November to December.
“Employment posted another solid gain in January, although the pace of growth is slower than in recent months,” Mark Zandi, chief economist of Moody’s Analytics, said in a prepared statement. “Businesses in the energy and supplying industries are already scaling back payrolls in reaction to the collapse in oil prices, while industries benefiting from lower prices have been slower to increase their hiring.”
The human resources and payroll company found that medium-sized businesses of 50 to 499 employees led the way, adding 95,000 jobs for the month. According to the ADP National Employment Report, crafted in collaboration with Moody’s Analytics, small businesses of less than 49 employees added 78,000 jobs, while large businesses with more than 500 employees added 40,000 positions.
“January marks another month of solid job gains and is in line with the NER’s 12-month average of over 200,000 jobs added per month,” Carlos Rodriguez, CEO and president of ADP, said in a prepared statement.
Once again, the service sector outstripped the goods-producing sector, adding 183,000 jobs, compared with the production sector’s 31,000. The trade/transportation/utilities sector led the way, adding 54,000 jobs.
“All indications are that the job market will continue to improve in 2015,” Zandi said.
ALSO ON NJBIZ:
Cushman’s N.J. leader leaves to become regional exec with Colliers
Jersey City hospital on verge of exiting Horizon BCBSNJ network
State’s hospitals worth $2.8B in community benefits, including unpaid care, study finds