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Thursday, January 5, 2017

ADP: 153,000 Jobs Added in December

The non-farm private sector added 153,000 jobs in December, according to the ADP National Employment Report. November’s figure was revised downward slightly to 215,000. Service-providing jobs accounted for all of the month’s growth, while goods-producing employment fell during the month.
Growth was widespread in December with businesses of all sizes seeing increases. Small businesses with fewer than 50 employees added 18,000 jobs, while medium-sized businesses with 50-499 employees added 71,000 jobs. Large businesses added 63,000 jobs.

“As we exit 2016, it’s interesting to note that the private sector generated an average of 174,000 jobs per month, down from 209,000 in 2015,” said Ahu Yildirmaz, vice president and head of the ADP Research Institute. “And while job gains in December were slightly below our monthly average, the U.S. labor market has experienced unprecedented seven years of growth that has brought us to near full employment. As we enter 2017, the tightening labor market will likely slow the growth.”

Service-providing employment rose by 169,000 jobs, which was driven by the trade, transportation, and utilities sector which added 82,000 jobs. Health care and social assistance jobs also increased, adding 26,000 jobs. In contrast, goods-producing employment fell by 16,000 jobs. The manufacturing industry led the decline, shedding 9,000 jobs.

Read the ADP report.
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