"January ADP Report: Private Payroll Growth Slows to 107,000, Missing Expectations"
ADP reported that private payroll growth slowed to 107,000 in January, below expectations and signaling a possible labor market slowdown. Only the information services sector reported a decline, while hiring was slow across most sectors. Leisure and hospitality saw the biggest increase in jobs, with midsize establishments leading job creation. Wage gains were reported at a 5.2% annual rise, above the government's measure of average hourly earnings, indicating potential improvement in the economy.