US private sector added 257,000 jobs in December beating expectations

By FXStreet FXStreet (Mumbai) – ADP National Employment Report today showed U.S. private employers added 257,000 jobs in December, way above 192,000 expected by economists. The number had come in at 217,000 in November.

Payrolls for businesses with 49 or fewer employees increased by 95,000 jobs in December, up from November’s downwardly revised 72,000. Employment among companies with 50-499 employees increased by 65,000 jobs, up about 10 percent from last month. Employment at large companies – those with 500 or more employees was at 97,000 an increase from the upwardly revised 80,000 jobs added in November; while companies with 500-999 added 39,000 jobs, while companies with over 1,000 employees gained 58,000 jobs.

Goods-producing employment rose by 23,000 jobs in December; while service-providing employment rose by 234,000 jobs in December, up from an upwardly revised 213,000 in November.

Ahu Yildirmaz, VP and head of the ADP Research Institute noted “2015 had a strong close with December showing the largest job gains of the year”. He also added “Overall, the average monthly employment growth was just under 200,000 for the year in contrast to almost 240,000 jobs per month in 2014. Weakness in the energy and manufacturing sectors was mostly responsible for the drop …read more

Source:: FX Street