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U.S. Companies Added 238,000 Jobs in December, ADP Reports

U.S. Companies Added 238,000 Jobs in December, ADP Reports (Bloomberg)

U.S. companies added more workers than projected in December amid rising optimism about the prospects for demand, according to a private report on payrolls. The 238,000 increase in employment was the biggest since November 2012 and followed a revised 229,000 gain in November that was better than initially estimated, concluded ADP Research Institute in Roseland, N.J. The December numbers exceeded the most optimistic forecast in a Bloomberg survey in which the median projection called for a 200,000 advance. A pickup in hiring, with rising wages, are helping to spur growth in consumer purchases. A Labor Department report this week may show private payrolls rose by 197,000 last month, according to the Bloomberg survey median.

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U.S. companies added more workers than projected in December amid rising optimism about demand, according to a private report on payrolls.

archive

U.S. Companies Added 238,000 Jobs in December, ADP Reports

U.S. companies added more workers than projected in December amid rising optimism about demand, according to a private report on payrolls.

U.S. Companies Added 238,000 Jobs in December, ADP Reports (Bloomberg)

U.S. companies added more workers than projected in December amid rising optimism about the prospects for demand, according to a private report on payrolls. The 238,000 increase in employment was the biggest since November 2012 and followed a revised 229,000 gain in November that was better than initially estimated, concluded ADP Research Institute in Roseland, N.J. The December numbers exceeded the most optimistic forecast in a Bloomberg survey in which the median projection called for a 200,000 advance. A pickup in hiring, with rising wages, are helping to spur growth in consumer purchases. A Labor Department report this week may show private payrolls rose by 197,000 last month, according to the Bloomberg survey median.

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Written By

Paul Dykewicz is the editorial director of the Financial Publications Group at Eagle Publishing Inc., www.eaglepub.com, of Washington, D.C. Eagle publishes five free, e-letters, 10 weekly trading services and five monthly investment newsletters, Forecasts & Strategies, Successful Investing, Cash Machine, Growth & Dividend Report and The Alpha Investor Letter. He also is the editor of Eagle Daily Investor and the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain."

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