Roseland, NJ, United States (AHN) – Hiring slowed in January, with private sector companies adding only 170,000 jobs to the economy, according to a report by payroll processor ADP.

Many of those jobs were in the services sector, with 95,000 of those new jobs, slightly more than half, created by small businesses employing fewer than 50 people.

Large companies that employ 500 or more people only created 3,000 new jobs, while medium-sized businesses hired 72,000 new workers.

Moreover, hiring in December was weaker than previously reported. The actual number of jobs created in December was 292,000, down from the first estimate of 325,000 jobs.

However, ADP is optimistic about job growth.

“Over the last three months, the monthly gains in employment shown in The ADP National Employment Report have averaged 223,000, compared to 163,000 per month over all of 2011,” said Carlos Rodriguez, president and CEO of ADP. “This is a positive development that we hope will continue throughout the course of 2012.”

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