U.S. employment up 270K jobs in December, ADP says

Private-sector employment grew by approximately 270,000 jobs in December, according to Roseland-based ADP.

The payroll and human services company said in its monthly ADP National Employment Report that the number of jobs grew by 271,000 positions between November and December.

“We wrapped up 2018 with another month of significant growth in the labor market,” Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said. “Although there were increases in most sectors, the busy holiday season greatly impacted both trade and leisure and hospitality. Small businesses also experienced their strongest month of job growth all year.”

Medium-sized businesses with 50 to 499 employees dominated the month, adding 129,000 new jobs.  Large-sized businesses with 500 or more employees added 54,000, while small-sized businesses with fewer than 49 employees added 89,000.

“Businesses continue to add aggressively to their payrolls despite the stock market slump and the trade war. Favorable December weather also helped lift the job market. At the current pace of job growth, low unemployment will get even lower,” Mark Zandi, chief economist of Moody’s Analytics, said.

In the Top 10 sectors, according to ADP, those in the service-producing industry were on top, adding 224,000 jobs compared with 47,000 in the goods-producing industry.

Under the service-producing sector, professional and business services added the most positions, reporting 66,000 new roles, while education and health services added 61,000, leisure and hospitality added 39,000, trade/transportation/utilities added 33,000, other services added 12,000, financial activities added 7,000, and information added 6,000.

Under the goods-producing sector, construction brought in the most jobs, reporting 37,000 new roles, while manufacturing added 12,000. The only section at a negative was in natural resources and mining, which lost 2,000 jobs.