January Adds 130,000 Jobs

Private employment added some 130,000 jobs from December 2007 to January of 2008, according to the latest ADP National Employment Report. Employment within the service sector grew 141,000, while employment in the goods-producing sector declined 11,000, the 14th consecutive monthly decline in that area. Small and midsized businesses, defined as those employing fewer than 500 workers, added 122,000 jobs, while employment among larger companies with 500 workers or more added 8,000. Manufacturing employment in January was flat, thereby halting 18 consecutive months of declines. In January, construction employment fell 13,000, the 14th consecutive monthly decline. The February ADP report will be available March 5.