Economy

ADP jobs report December 2022:

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Job market shows unexpected strength in ADP December payroll report

The jobs market closed out 2022 on a high note, with companies adding far more positions than expected in December, payroll processing firm ADP reported Thursday.

Private payrolls rose by 235,000 for the month, well ahead of the 153,000 Dow Jones estimate and the 127,000 initially reported for November.

While the goods-producing sector increased by a relatively meager 22,000, service providers added 213,000, led by leisure and hospitality, which added 123,000 positions. Professional and business services grew by 52,000, while education and health services added 42,000.

Stock market futures edged lower following the report as investors fear that strong jobs numbers could push the Federal…



Source cnbc.com

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