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ADP Employment Misses With Weather Impact

US DATA
  • ADP employment was softer than expected in January at 106k vs consensus of 180k or 190k for Friday’s private payrolls.
  • It was however impacted by adverse weather: "Employment was soft during our Jan. 12 reference week as the U.S. was hit with extreme weather. California was coping with record floods and back-to-back storms delivered ice and snow to the central and eastern U.S."

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