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03 Feb 2021 | 13:58

Hiring by US private employers increases in January

(Sharecast News) - US private employers hired more workers in January than in the previous month despite new Covid-19 infections continuing to soar across the country. Private payrolls increased by 174,000 in January, according to ADP, ahead of expectations for a print 49,000, while data for December was revised to show 78,000 jobs lost instead of the 123,000 initially reported.

ADP vice president Ahu Yildirmaz said: "The labour market continues its slow recovery amid COVID-19 headwinds.

"Although job losses were previously concentrated among small and midsized businesses, we are now seeing signs of the prolonged impact of the pandemic on large companies as well."

Job growth has been projected to accelerate come spring when the boost from nearly $900.0bn worth of additional coronavirus relief funds from the White House in late December kicks in.
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