ADP Shows US Economy Added 325K Private-Sector Jobs in Dec.
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ADP reported private-sector employment rose by 325,000 jobs during the month of December. Despite the strong reading, US futures are mostly lower Thursday morning. While the Nasdaq is up nearly a point, Dow futures are down 7 points while the S&P 500 is down 2.1.
Small businesses hired an additional 148,000 jobs, while 140,000 jobs positions were added to medium-sized businesses compared to the month of November. About 273,000, or 84 percent of the total additions were located within the service sector. The goods sector added 52,000 jobs and the manufacturing industry accounted for 22,000 of new jobs.
“December’s advance was the largest monthly gain since December 2010, reflecting strong job creation across most industries,” said Carlos Rodriguez, President and Chief Executive Officer of ADP. “Small and medium-sized businesses were hiring at a similar pace. Job creation among large employers was also encouraging.”
ADP also revised its employment increase for November from a gain of 206,000 jobs to a gain of 204,000.
Small businesses hired an additional 148,000 jobs, while 140,000 jobs positions were added to medium-sized businesses compared to the month of November. About 273,000, or 84 percent of the total additions were located within the service sector. The goods sector added 52,000 jobs and the manufacturing industry accounted for 22,000 of new jobs.
“December’s advance was the largest monthly gain since December 2010, reflecting strong job creation across most industries,” said Carlos Rodriguez, President and Chief Executive Officer of ADP. “Small and medium-sized businesses were hiring at a similar pace. Job creation among large employers was also encouraging.”
ADP also revised its employment increase for November from a gain of 206,000 jobs to a gain of 204,000.
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