Economics
The Gulf in January Jobs Reports Is Sign of ‘Abnormal Times,’ ADP Economist Says
- Labor Department reports payroll surge, while ADP saw a drop
- ‘The story is still being written, frankly,’ economist says
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Wall Street strategists had two wildly different pictures of the U.S. job market to weigh against each other this week. One, from the ADP Research Institute, showed the number of jobs tumbled in January. The other, from the U.S. Labor Department, that payrolls grew at a surprisingly rapid pace.