"December Sees Surge in Private Payrolls with 164K Jobs Added, Outpacing Forecasts Amid Easing Inflation"

The ADP National Employment Report for December revealed a 164,000 job increase in the private sector and a 5.4% rise in annual pay compared to the previous year. The report, which provides a high-frequency view of U.S. private-sector employment based on actual payroll data, indicated that job gains were led by the leisure and hospitality sector, while manufacturing saw losses. The data also showed a deceleration in pay growth, with job-stayers experiencing a 5.4% increase in annual pay. The report is a collaboration between the ADP Research Institute and the Stanford Digital Economy Lab.