0937 ET - January payrolls are likely to top consensus, despite the lower-than-expected ADP report, Pantheon's Samuel Tombs writes. ADP reports 22,000 private-sector jobs created last month, missing the 45,000 WSJ consensus forecast. However, Pantheon expects a 100,000 increase in payrolls in January. The official data, originally due Friday, was postponed because of this week's partial government shutdown. "The trend is probably still 50-to-75K, but the weather in early January was unusually mild, facilitating higher-than-usual activity in the construction, leisure and hospitality, and transportation and logistics sectors," Tombs says. He expects labor markets to remain weak and pressure the Fed to cut interest rates. (paulo.trevisani@wsj.com)

(END) Dow Jones Newswires

February 04, 2026 09:37 ET (14:37 GMT)

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