ADP: Private sector employment increased by 250,000 jobs in December

Eren Sengezer FXStreet

"Private sector employment increased by 250,000 jobs from November to December," ADP Research Institue reported on Thursday.

Key highlights

"We’ve seen yet another month where the labor market has shown no signs of slowing,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.

Throughout the year there was significant growth in services except for an overall loss of jobs in the shrinking information sector.

Looking at company size, small businesses finished out 2017 on a high note adding more than double their monthly average for the past six months.

Mark Zandi, chief economist of Moody’s Analytics, said, “The job market ended the year strongly. Robust Christmas sales prompted retailers and delivery services to add to their payrolls. The tight labor market will get even tighter, raising the specter that it will overheat.”

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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