2016 ends with weaker jobs report from ADP

Today ADP employment numbers were released from US for the month of December.

ADP number shows the US labor markets are showing a lot of volatility lately.

There are two things to note in the headline that,

• Return to weakness just after a month of strength.

• November payroll got a revision. It has now revised to 215,000 (down from 228,000). October was revised higher to 124,000 (+5,000).

Key highlights –

• Non-farm private sector employment grew at 153,000 in December, median expectation was for 173,000.
• Small business sector hiring at 18,000, compared to 37,000 last month.
• Employment in franchise increased to 23,300 compared to last month’s 15,100.
• Mid-sized companies added 71,000 jobs compared to last month’s 89,000 jobs.
• Large sector added just 63,000 compared to last month’s 90,000 jobs.
• Manufacturing sector payroll registered 9,000 jobs losses compared to 10,000 job losses last month.
• 16,000 jobs were lost in the goods-producing sector, compared to last month’s 11,000 jobs losses.
• Construction sector saw 2,000 jobs loss, compared to last month’s 2,000 jobs gain.
• Services sector employment remains robust as payroll added 169,000 people in December November gains were 228,000.

The Dollar index is currently trading at 102.39, flat for the day so far.