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Private Payroll Growth Falls Short Amid Job Losses

2/5/2026

47 5 Full Breakdown

Summary

Payroll Growth Stagnates

The ADP National Employment Report shows private payrolls rose by 22,000 in January, far below the 45,000 forecast.
Education and health services added 74,000 jobs, providing the primary driver of growth.
Other sectors, including professional and business services and manufacturing, posted job losses.
The government shutdown delayed the official jobs report to February 11.
Experts warn that stagnation could hinder economic growth.

Summary

ADP Report Revisions

The ADP National Employment Report underwent significant revisions that extend back to 2010.
The revisions show erratic month-to-month job changes and a downward adjustment of about 2.5 million jobs over the period.
The January 2026 report reflects these changes and aligns with the Bureau of Labor Statistics' Quarterly Census of Employment and Wages (QCEW).
Experts caution that relying on ADP's report may be misguided due to these inconsistencies.

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Payroll Growth Stagnates

The ADP National Employment Report shows private payrolls rose by 22,000 in January, far below the 45,000 forecast.
Education and health services added 74,000 jobs, providing the primary driver of growth.
Other sectors, including professional and business services and manufacturing, posted job losses.
The government shutdown delayed the official jobs report to February 11.
Experts warn that stagnation could hinder economic growth.

1 / 2