- ADP Jobs Report:-301K vs. +225K consensus and +776K prior (revised).
- Goods producing sector lost 27K jobs, while service producing sector lost274K jobs.
- “The labor market recovery took a step back at the start of 2022 due to the effect of the Omicron variant and its significant, though likely temporary, impact to job growth,” said Nela Richardson, chief economist, ADP. “The majority of industry sectors experienced job loss, marking the most recent decline since December 2020.
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