The US private sector added approximately 22,000 jobs in January, according to figures released moments ago by the ADP, following a revised figure of approximately 37,000 jobs added in December. This fell short of expectations, which had anticipated an increase of 46,000 jobs. Average wages rose by 4.5% year-over-year.

In detail, the construction sector added approximately 9,000 jobs, while the manufacturing sector lost approximately 8,000 jobs. The services sector added 21,000 jobs, with the education and healthcare services sector leading the way with an increase of 74,000 jobs. The professional and business services sector lost 57,000 jobs, while the trade, transportation, and utilities sector added approximately 4,000 jobs.