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US private sector added 250,000 jobs in Dec, vs estimate of 190,000: ADP

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January 4, 2018

Private sector job creation surged in December as a strong holiday shopping season pushed companies to hire more workers, according to a report Thursday from ADP and Moody’s Analytics.

Companies hired 250,000 new workers to close out the year, well above Wall Street expectations of 190,000. The month was the best for job creation since March and topped the 185,000 in November, a number that was revised lower by 5,000.

The total brought 2017’s private payroll growth as gauged by ADP and Moody’s to 2.54 million, an average of 212,000 a month.

Job growth was broad-based, as professional and business services led the way with 72,000 new positions. The education and health services sector was next at 50,000 and trade, transportation and utilities contributed 45,000. Wall Street-related payrolls grew by 19,000.

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This article was posted: Thursday, January 4, 2018 at 9:22 am

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