Wednesday, January 08, 2020

ADP: Private Employment increased 202,000 in December

by Calculated Risk on 1/08/2020 08:22:00 AM

From ADP:

Private sector employment increased by 202,000 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.
...
“As 2019 came to a close, we saw expanded payrolls in December,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “The service providers posted the largest gain since April, driven mainly by professional and business services. Job creation was strong across companies of all sizes, led predominantly by midsized companies.”

Mark Zandi, chief economist of Moody’s Analytics, said, “Looking through the monthly vagaries of the data, job gains continue to moderate. Manufacturers, energy producers and small companies have been shedding jobs. Unemployment is low, but will begin to rise if job growth slows much further.”
This was above the consensus forecast for 156,000 private sector jobs added in the ADP report.

The BLS report will be released Friday, and the consensus is for 160,000 non-farm payroll jobs added in December.