Private Payrolls Smash Expectations

CLEVELAND, OH - JULY 21: Republican presidential candidate Donald Trump gives two thumbs up to the crowd during the evening session on the fourth day of the Republican National Convention on July 21, 2016 at the Quicken Loans Arena in Cleveland, Ohio. Republican presidential candidate Donald Trump received the number …
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Did someone forget to tell American businesses that the government shutdown was supposed to depress hiring?

Private payrolls grew by 213,000 in January, according to ADP and Moody’s Analytics.

Economists polled by Bloomberg expected payrolls to grow by 174,000.

 “The job market weathered the government shutdown well. Despite the severe disruptions, businesses continued to add aggressively to their payrolls,” said Mark Zandi, chief economist at Moody’s Analytics, in a statement. “As long as businesses hire strongly the economic expansion will continue on.”

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