Hiring in the U.S. private sector picked up in December, but the increase fell short of economists’ expectations, according to new data published Wednesday by payroll services firm ADP.
The report showed that private-sector employment rose by 41,000 jobs during the month, following a revised decline of 29,000 positions in November. Economists had been forecasting a stronger rebound, with consensus estimates pointing to job growth of around 47,000, compared with the previously reported loss of 32,000 in the prior month.
Commenting on the figures, ADP’s chief economist, Dr. Nela Richardson, said: “Small establishments recovered from November job losses with positive end-of-year hiring, even as large employers pulled back.”