ADP: Jobs Grew by Nearly 300,000 In December
Looks like businesses are finally feeling some confidence.
Maybe they read my post? Probably not.
Regardless, if the above number holds up when the government reports on Friday it would represent triple what Wall Street was predicting.
Separately, private placement firm Challenger, Gray & Christmas said planned layoff announcements in December by U.S. employers fell 34% to 32,000 in December from about 49,000 in November. That brought 2010 layoffs to about 530,000, the lowest total since 1997 and a 59% reduction from 2009, when job losses reached a seven-year high.
ADP’s December report showed that job gains were concentrated in services and in small and midsize businesses. Services added 270,000 jobs — the sector’s largest monthly increase on record, ADP said. Small businesses added 117,000 jobs; midsize businesses, 144,000; and large businesses, 36,000.
Construction employment was unchanged in December — but that ends the more than three-year-long monthly losing steak that started in June 2007. Goods producers added 27,000 jobs, manufacturing employment increased by 23,000 and financial services added 8,000 jobs.
We had signs that something like this could happen last month when jobless claims hit a 2.5 year low
Long story short, the trends are going the right way. Let’s hope they continue.