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Adpreport

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economy2 years ago•2 min saved

"December Sees Surprising Surge in Private Sector Employment, ADP Reports"

The ADP National Employment Report indicated that U.S. private sector job growth in December exceeded expectations, with 164,000 jobs added compared to the 115,000 forecasted by economists. This growth occurred despite the Federal Reserve's interest rate hikes, with signs of inflation moderation and economic slowdown. Wage growth is also on a decline, reducing concerns of a wage-price spiral. The leisure and hospitality sector led the gains, while there were losses in manufacturing, natural resources, mining, and information. This precedes the Labor Department's jobs report, which is also expected to show employment growth.

via Fox Business|

##adpreport #economy

economy2 years ago•1 min saved

"December Sees Surpassing Growth with 164,000 New Private Sector Jobs, Exceeds Forecasts"

The U.S. private sector saw a significant increase in job creation in December, with private payrolls adding 164,000 jobs, surpassing the Dow Jones estimate of 130,000. The leisure and hospitality sector led the growth, followed by contributions from construction and other services. Despite a few sectors experiencing declines, the overall job market showed resilience, with smaller companies and the Western region of the U.S. seeing notable job additions. Wage growth has slowed, reducing concerns of a wage-price inflation spiral. This data comes ahead of the Labor Department's nonfarm payrolls report and provides insight into the labor market's recovery and balance, which is closely monitored by the Federal Reserve in relation to inflation.

via CNBC|

##adpreport #economy

business-and-economy2 years ago•4 min saved

"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.

via PR Newswire|

##adpreport #business-and-economy