(REUTERS) -- The pace of job creation by private employers slowed in January after a sharp gain the month before, a report by a payrolls processor showed on Wednesday.

The private sector added 170,000 jobs last month, the ADP National Employment Report showed, shy of economists' expectations for a gain of 185,000 jobs.

December's private payrolls were revised down to an increase of 292,000 from the previously reported 325,000.

The report is jointly developed with Macroeconomic Advisers LLC.

(Reporting By Leah Schnurr; Editing by Chizu Nomiyama)