Economy
US private payrolls increase by 122,000 in December, below estimates
Hiring decelerated across various industries, with manufacturing contracting for 3rd consecutive month, says ADP Research Institute
Tuba Ongun |
08.01.2025 - Update : 08.01.2025
ANKARA
US private payrolls rose by 122,000 in December falling short of market estimates, according to a report released Wednesday by ADP Research Institute.
Market expectation was a 139,000 hike in the figure, following a 146,000 increase in November.
The report said hiring declined across multiple industries, including a third consecutive month of job losses in manufacturing.
The labor market slowed in December 2024, with reduced hiring and pay growth, Nela Richardson, the ADP chief economist, said.
"Health care stood out in the second half of the year, creating more jobs than any other sector," she added.
