Overview
- ADP said private payrolls rose by 41,000 in December, below forecasts, with gains concentrated in education and health services and in leisure and hospitality.
- White-collar and goods-producing areas weakened, including losses of 29,000 in professional and business services, 12,000 in information, and 5,000 in manufacturing.
- Hiring was led by smaller establishments as large employers added just 2,000 positions, signaling continued caution at bigger firms.
- Wage growth held steady for job stayers at 4.4% year over year, while job changers saw pay up 6.6%, according to ADP.
- Separately, BLS JOLTS data showed job openings fell to about 7.146 million in November and hiring eased, reinforcing a low-hire, low-fire labor market ahead of the government’s jobs report.