Gains: U.S. companies added 291,000 jobs in January, a big increase from December, but much of that strength likely reflected unusually warm weather during the month, according to the latest report from payroll processor ADP. Mark Zandi, chief economist at Moody’s Analytics, says that warmer-than-normal weather for January played a big role in the increase. He says without that impact, the job gain would probably have been around 150,000. Read the full report.
Train service: A vote by the Mobile City Council on Tuesday moved the northern Gulf Coast one step closer to a resumption of regular Amtrak service for the first time since Hurricane Katrina. Members voted to approve a grant application for restoring passenger train service to the Alabama city, news outlets reported. The train would link New Orleans and Mobile twice daily with stops in Mississippi in Pascagoula, Biloxi, Gulfport, and Bay St. Louis. Read the full story.
Expansion: U.S. services companies grew at a slightly faster pace in January than the previous month, an indicator of continued steady expansion of the economy. The Institute for Supply Management said this morning that its service-sector index edged up to 55.5 from 55 in December. Any reading above 50 signals an expansion. The index covers retail, health care, hotels and restaurants, and professional services, among other sectors. Read the full story.
