U.S. private-sector payrolls rise 170,000 in January; December revised down to 292,000

WASHINGTON (MarketWatch)
Private-sector payrolls increased 170,000 in January, led by the service-providing sector and small businesses, according to the ADP employment report released Wednesday
The December level was revised to 292,000 from a prior estimate of 325,000
However, the U.S. Labor Department has reported that private-sector employment only rose 212,000 in December
Still, markets look to ADP's report on private-sector payrolls to provide some guidance on the U.S. Labor Department's jobs estimate, which will be released Friday and includes information on both private- and public-sector payrolls
On Friday economists polled by MarketWatch expect the Labor Department to report that overall nonfarm payroll employment rose 125,000 in January, compared with 200,000 in December. Economists expect the unemployment rate to remain at 8.5%