US private sector employment rises by 41,000 in December - ADP

(Sharecast News) - Private sector employment in the US rose in December, albeit a little less than expected, according to figures released on Wednesday by ADP. Employment increased by 41,000 from November, versus expectations for a 48,000 jump. Meanwhile, the figure for November was revised to show that 29,000 jobs were lost, rather than 32,000.

Small businesses with fewer than 50 employees added 9,000 jobs, while medium businesses with between 50 and 499 employees added 34,000 jobs. Large businesses with more than 500 employees created an additional 2,000 jobs.

The service sector added 44,000 jobs, while the goods-producing sector saw a 3,000 decline.

Year-over-year pay for job-stayers rose 4.4% in December, unchanged from November. For job changers, pay growth accelerated to 6.6% from 6.3%.

Nela Richardson, chief economist at ADP, said: "Small establishments recovered from November job losses with positive end-of-year hiring, even as large employers pulled back."