U.S. private sector job creation beats expectations in December
U.S. private sector employers hired 164,000 workers in December, down from November's 101,000 job gain.。
According to data released Thursday by Automatic Data Processing, U.S. private sector employers hired 164,000 workers in December, a downward revision from November's job gain of 101,000.。
December figures beat analyst estimates of 115,000。
Last month, the leisure and catering industry added the most jobs, reaching 59,000.。
Construction added 24,000 jobs, while finance created 18,000。
On the other hand, there were job losses in manufacturing (-13,000), information services (-2,000) and natural resources and mining (-2,000).。
Wage growth continued to slow in December, with long-term workers getting 5.4% increase。Those who changed jobs got an 8% increase.。
Commenting on the data, Nela Richardson, chief economist at ADP, said: "We are returning to a labor market that is very much in line with the pre-pandemic job market.。While wages have not driven recent inflation, the risk of any wage price spiral has all but disappeared as wage growth has receded.。"
The ADP employment report is used as a predictor of the official government employment report to be released on Friday.。
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