Bebeto Matthews / AP
Jason Weinstein, an account manager for Workforce1 Healthcare, discusses job opportunities with attendees at a job fair in New York last month.
By msnbc.com staff and wire
Private employers added 170,000 jobs in January, according to a new report released Wednesday from payrolls processor ADP.
The monthly number came in exactly as analysts had expected, but December’s monthly gain in private-sector hiring was revised down by to 33,000 to a gain of 292,000.
“It has been said that slow and steady wins the race. I like to win a race in the long run, but it has to be said we are running a little bit slowly here,” Joel Prakken of Macroeconomic Advisers, which helps produce the survey, told CNBC.
We need monthly gains in employment twice this amount “to climb out of this hole we are in,” he added.
Each month, ADP releases a report on whether private employers added any jobs in the prior month. The report is often used as a gauge heading into the government’s monthly employment report, which is due out Friday.
Reuters contributed to this report.
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