U.S. companies in December added the most jobs in seven months, indicating that more Americans are returning to the labor force and helping employers to fill a near-record number of open positions.
According to ADP Research Institute figures issued Wednesday, businesses’ payrolls increased by 807,000 in December, following a downwardly revised 505,000 increase in November.
The larger-than-expected increase in payrolls might imply that firms were more successful in recruiting in December, as greater earnings and favorable working conditions enticed workers to leave the sidelines.
The data precede Friday’s monthly jobs report from the Labor Department, which is currently forecast to show that the U.S. added 384,000 private payrolls in December.
Industry Breakdown:
- Payrolls in trade, transportation, and utilities increased by 138,000, the most since September 2020.
- Manufacturing employment increased by 74,000, the most since September 2020.
- Construction employment increased by 62,000, the greatest since June 2020.
- Professional and corporate payrolls increased by 130,000, the most since June 2020.
- Employment in the service sector increased by 669,000, the highest since June, led by leisure and hospitality.
- Payrolls at manufacturers grew by 138,000, the most since September 2020.
- Companies with more than 500 employees added 389,000 positions, the most since June 2020.
- Small enterprises increased by 204,000 in December, the largest in six months.
ADP’s payroll figures reflect companies that employ roughly 26 million people in the United States.
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