Feb 5 (Reuters) - Dayforce ( DAY ) forecast

first-quarter revenue below estimates on Wednesday due to waning

demand for its payroll and human resources services, as small-

and medium-sized businesses curtail spending due to

macroeconomic uncertainty.

Shares of the Minneapolis, Minnesota-based company fell 3.1%

in premarket trading.

Hiring in the U.S. labor market is slowing down, leading to

lower demand for payroll, human resources management and other

products offered by companies such as Dayforce ( DAY ).

U.S. job openings fell by the most in 14 months in

December, although the hiring rate was steady and layoff rates

low.

The company expects first quarter total revenue,

excluding float, between $421 million and $427 million, below

analysts' estimates of $482.4 million, according to data

compiled by LSEG.

Company forecasts a float revenue of $53 million in the

quarter.

Float revenue refers to earnings or interest that a company

generates from holding cash or other liquid assets for a period

of time before using them for their intended purpose.

For the quarter ended Dec. 31, Dayforce ( DAY ) posted a revenue of

$465.2 million, compared with analysts' estimates of $455.1

million.

On an adjusted basis, Dayforce ( DAY ) earned 60 cents per share in

the quarter, compared with estimates of 58 cents per share.