January’s payrolls report on Friday could be rough, with as many as 400,000 jobs lost by one estimate
Posted on AllSides February 2nd, 2022
From The Center
Alexi Rosenfeld | Getty Images
ANALYSIS
A jobs market that was on fire for most of 2021 looks like it was dealt a cold splash of reality to start the new year.
Judging by the opinions of some major Wall Street forecasters and fortified Wednesday by data from payroll processing firm ADP, employment in January either slowed to a crawl — or perhaps even turned negative.
ADP reported that companies subtracted 301,000 jobs during the month, spurred largely by swelling Covid-19 omicron cases and a wider slowdown in business conditions.
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