US ADP non-farm employment rises by 22,000 in January, missing estimates

U.S. non-farm private sector employment rose by 22,000 in January, falling short of the projected 41,000, according to the National Employment Report from Automatic Data Processing (ADP). The report, released ahead of the official data from the U.S. Department of Labor, is based on payroll data from over 500,000 of ADP's client companies. Unlike the ADP report, the Department of Labor's figures also include government sector employment. The U.S. Federal Reserve considers employment data when making interest rate decisions. Strong figures may lead the Fed to raise or hold rates to prevent economic overheating, while weak data could prompt rate cuts to stimulate growth.