Tepid January Hiring Signals a Slow Start for 2026
ADP data show January private payrolls up just 22,000, well below forecasts of ~45,000 and December's revised 37,000; gains were led by a 74,000 increase in education and health services, with other sectors mostly flat or shrinking and wage growth about 4.5% for retained workers. The closely watched BLS nonfarm payrolls release is delayed by a partial government shutdown.