America’s private sector created many more jobs than expected last month, in the latest sign that the US economy is robust.
US companies hired 250,000 new workers in December, according to payroll firm ADP.
That’s the biggest monthly increase since March,
Economists had only expected an increase of 190,000; this suggests that tomorrow’s non-farm payroll report (the main US employment gauge) could be strong.
ADP NATIONAL EMPLOYMENT REPORT SHOWS U.S. EMPLOYMENT INCREASED BY 250,000 PRIVATE SECTOR JOBS IN DECEMBER pic.twitter.com/fzGD7cwtVS
— *Walter Bloomberg (@DeItaOne) January 4, 2018
Service sector companies provided the bulk of the new jobs; including 72,000 new ‘professional and business’ roles.
— LiveSquawk (@LiveSquawk) January 4, 2018