January’s payrolls report could show as many as 400,000 jobs lost


A person walks into a new cookie shop next to a “Help Wanted” sign on January 12, 2022 in New York City.

Alexi Rosenfeld | Getty Images

A jobs market that was on fire for most of 2021 looks like it was dealt a cold splash of reality to start the new year.

Judging by the opinions of some major Wall Street forecasters and fortified Wednesday by data from payroll processing firm ADP, employment in January either slowed to a crawl — or perhaps even turned negative.

ADP reported that companies subtracted 301,000 jobs during the month, spurred largely by swelling Covid-19 omicron cases and a wider slowdown in business conditions.

The report comes two days before the U.S. Labor Department releases…


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