Private employers added 291,000 jobs in January, soaring past economists' expectations for the best monthly gain in more than five years, according to the latest ADP National Employment Report.
The total far exceeded the 156,000 jobs that economists surveyed by Refinitiv were expecting.
The data precedes the release of more closely watched update from the Labor Department on Friday, which is expected to show the U.S. economy added 160,000 jobs last month. Analysts anticipate unemployment will hold steady at 3.5 percent, a half-century low.
We just keep banging away at unemployment. Pretty damn impressive.