Private Employment Grows Over Last Month

Roseland, NJ, Wednesday, January 30, 2008--Nonfarm private employment grew 130,000 from December 2007 to January of 2008 on a seasonally adjusted basis, according to the ADP National Employment Report.

The estimated change in employment from November to December was revised down 3,000 to 37,000. January’s increase of 130,000 is consistent with nonfarm private employment growth that averaged 110,000 during the three-month period from October through December 2007.

Employment in the service-providing sector of the economy grew 141,000, while employment in the goods-producing sector declined 11,000, the 14th consecutive monthly decline.

Manufacturing employment in January was flat after eighteen consecutive monthly declines. Small- and medium-size businesses, defined as those employing fewer than 500 workers, more than accounted for the increase in total employment in January, adding 122,000 jobs.

Employment among larger companies with 500 workers or more increased 8,000. Two sectors of the economy hit hardest by recent problems in mortgage markets have been residential construction and financial activities related to home sales and mortgage lending. In January, construction employment fell 13,000. This is the 14th consecutive monthly decline, bringing the total decline in construction jobs since the peak in August 2006 to 215,000