New York: Companies in the United State of America ramped up hiring at the start of the year, taking on the most workers since May 2015 and indicating the labor market remains robust, a report on private payrolls showed Wednesday.
Employment at businesses increased by 291,000 in January after a revised 199,000 gain in the previous month, according to data from the ADP (NASDAQ:ADP) Research Institute. The surge in hiring, which partly reflected the benefits of warmer weather, exceeded all economists’ forecasts in a Bloomberg survey that called for a 157,000 gain. The dollar strengthened and Treasury yields rose after the report.
