The non-farm private sector gained 235,000 jobs in December, according to the ADP National Employment Report. This follows a revised October increase of 127,000 jobs.
Small businesses with fewer than 50 employees gained 195,000 jobs. Medium-sized businesses with 50-499 employees gained 191,000 while large businesses lost by 151,000 jobs.
“The labor market is strong but fragmented, with hiring varying sharply by industry and establishment size. Business segments that hired aggressively in the first half of 2022 have slowed hiring and, in some cases, cut jobs in the last month of the year” Said Nela Richardson Chief Economist, ADP.
Service-providing employment gained 213,000 jobs, driven by gains in the Leisure/ hospitality and Professional and business services which grew by 224,000 and 52,000 jobs respectively.
Goods-producing employment gain 22,000 jobs in December. The Construction sector gain 41,000 jobs. Natural resources/mining and Manufacturing lost 14,000 and 5,000 jobs respectively.
Read the ADP report.
