US ADP Report: Superb December ADP confirms U.S. economic prowess

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

ADP number shows the US labor markets remains strong despite recent weakness.

There are two things to note in the headline that,

• ADP report indicates that the economy remains strong in terms of jobs gain but close monitoring needed as data suggests weakness.
   
• November payroll saw a revision, where the headline was revised down to 157,000 (from 179,000).
   

Key highlights –

• Non-farm private sector employment grew at 271,000 in December, the median expectation was for 178,000.
• The small business sector added 89,000 jobs, compared to 46,000 gain last month.
• Mid-sized companies added 129,000 jobs compared to last month’s 119,000 jobs.
• The large sector added just 54,000 compared to last month’s 13,000 jobs.
• Manufacturing sector payroll registered 12,000 jobs gain compared to 4,000 jobs gain last month.
• 47,000 jobs were gained in the goods-producing sector, compared to last month’s 16,000 jobs gain.
• The construction sector added 37,000 jobs, compared to last month’s 10,000 jobs gain.
• Services sector remains the main job provider as payrolls added 163,000 people in December. November gain was 163,000.

The dollar index is currently trading at 96.54, down 0.13 percent for the day so far.