US ADP Report: Another blockbuster jobs report

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

ADP number shows the US labor markets remains strong.

There are two things to note in the headline that,

• ADP report indicates underlying strength in the economy. Trump effect remains active completely as goods-producing sector adding jobs.

• November payroll saw a revision, where the headline was revised down to 185,000 (from 190,000).
   

Key highlights –

• Non-farm private sector employment grew at 250,000 in December, the median expectation was for 190,000.
• The small business sector added 94,000 jobs, compared to 50,000 gain last month.
• Employment in franchise increases to 27,300 compared to last month’s 28,300.
• Mid-sized companies added 100,000 jobs compared to last month’s 99,000 jobs.
• The large sector added just 56,000 compared to last month’s 41,000 jobs.
• Manufacturing sector payroll registered 9,000 jobs gain compared to 40,000 jobs gain last month.
• 28,000 jobs were gained in the goods-producing sector, compared to last month’s 36,000 jobs gain.
• The construction sector added 16,000 jobs, compared to last month’s 4,000 jobs loss.
• Services sector employment remains high as payroll added 222,000 people in December. October gain was 155,000.

The dollar index is currently trading at 91.97, down 0.25 percent for the day so far.