Wednesday, January 07, 2015

ADP: Private Employment increased 241,000 in December

by Bill McBride on 1/07/2015 08:15:00 AM

From ADP:

Private sector employment increased by 241,000 jobs from November to December according to the December ADP National Employment Report®. ... The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.
Goods-producing employment rose by 46,000 jobs in December, up from 40,000 jobs gained in November. The construction industry added 23,000 jobs, up from last month’s gain of 20,000. Meanwhile, manufacturing added 26,000 jobs in December, well above November’s 16,000 and the second highest monthly total of 2014 in that sector.

Service-providing employment rose by 194,000 jobs in December, up from 187,000 in November. ...

Mark Zandi, chief economist of Moody’s Analytics, said, “The job market continues to power forward. Businesses across all industries and sizes are adding to payrolls. At the current pace of job growth, the economy will be back to full employment by this time next year.”
This was above the consensus forecast for 223,000 private sector jobs added in the ADP report. 

The BLS report for December will be released on Friday and the consensus is for 240,000 non-farm payroll jobs added in December.